6,523 Ubiquiti Inc. $UI Shares Bought by Mather Group LLC.

Mather Group LLC. boosted its stake in shares of Ubiquiti Inc. (NYSE:UI) by 136.8% during the third quarter, HoldingsChannel.com reports. The firm owned 11,293 shares of the company’s stock after acquiring an additional 6,523 shares during the period. Mather Group LLC.’s holdings in Ubiquiti were worth $6,409,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in UI. Bank of America Corp DE purchased a new stake in shares of Ubiquiti during the 2nd quarter valued at $17,647,000. Diversify Advisory Services LLC acquired a new stake in shares of Ubiquiti during the 2nd quarter worth $1,526,000. Militia Capital Management LLC acquired a new stake in shares of Ubiquiti during the 1st quarter worth $1,581,000. Deutsche Bank AG purchased a new position in shares of Ubiquiti in the 2nd quarter worth $12,832,000. Finally, Canada Pension Plan Investment Board purchased a new position in shares of Ubiquiti in the 2nd quarter worth $19,140,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Barclays reduced their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a report on Monday, August 24th. Zacks Research upgraded Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. BWS Financial restated a “buy” rating and set a $980.00 price target on shares of Ubiquiti in a research note on Tuesday, September 29th. Finally, Weiss Ratings upgraded Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $734.50.

Ubiquiti Stock Performance

NYSE UI opened at $618.29 on Friday. The firm has a market capitalization of $37.43 billion, a price-to-earnings ratio of 38.25 and a beta of 1.30. Ubiquiti Inc. has a one year low of $500.23 and a one year high of $1,099.99. The company’s 50 day moving average price is $585.05 and its 200 day moving average price is $649.00.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.70. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. The company had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. During the same period in the previous year, the firm earned $4.41 earnings per share. Sell-side analysts forecast that Ubiquiti Inc. will post 16.94 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Stockholders of record on Monday, August 31st were paid a $1.00 dividend. The ex-dividend date of this dividend was Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s payout ratio is 25.24%.

Ubiquiti Company Profile

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.