Ubiquiti Inc. $UI Stake Reduced by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lessened its position in shares of Ubiquiti Inc. (NYSE:UI) by 80.3% in the third quarter, according to its most recent filing with the SEC. The firm owned 930 shares of the company’s stock after selling 3,794 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Ubiquiti were worth $528,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vision Retirement LLC acquired a new position in shares of Ubiquiti in the 1st quarter worth approximately $25,000. Fortitude Family Office LLC boosted its stake in shares of Ubiquiti by 109.5% in the 3rd quarter. Fortitude Family Office LLC now owns 44 shares of the company’s stock valued at $25,000 after purchasing an additional 23 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of Ubiquiti in the 2nd quarter valued at $35,000. CX Institutional bought a new stake in shares of Ubiquiti in the 3rd quarter valued at $51,000. Finally, Pinnacle Holdings LLC acquired a new stake in shares of Ubiquiti during the second quarter worth $49,000. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Trading Up 0.9%

UI opened at $607.98 on Friday. Ubiquiti Inc. has a 1-year low of $500.23 and a 1-year high of $1,099.99. The company has a market cap of $36.78 billion, a P/E ratio of 38.36 and a beta of 1.30. The company has a fifty day moving average price of $589.22 and a two-hundred day moving average price of $657.56.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share for the quarter, beating the consensus estimate of $4.03 by $0.70. The firm had revenue of $937.32 million for the quarter, compared to analyst estimates of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter in the prior year, the business earned $4.41 earnings per share. On average, research analysts forecast that Ubiquiti Inc. will post 16.94 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s dividend payout ratio is presently 25.24%.

Analysts Set New Price Targets

Several research firms have recently weighed in on UI. Zacks Research upgraded shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. Weiss Ratings upgraded shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. BWS Financial restated a “buy” rating and issued a $980.00 target price on shares of Ubiquiti in a report on Tuesday, September 29th. Finally, Barclays cut their price target on shares of Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a research report on Monday, August 24th. 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 company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $734.50.

About Ubiquiti

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company’s products are designed to provide wireless connectivity, routing, switching, network management and related communications capabilities.

Ubiquiti’s product portfolio includes the UniFi platform for enterprise and small-business networks, with products such as wireless access points, switches, gateways, security cameras and access-control systems. It also offers solutions for wireless internet service providers and other network operators through its UISP and related product lines, as well as consumer-oriented connectivity products under brands including AmpliFi.

Founded in 2005 by Robert Pera, Ubiquiti distributes its products internationally through distributors, online channels and other sales partners.