Summitry LLC Buys Shares of 1,736 Ubiquiti Inc. $UI

Summitry LLC bought a new position in shares of Ubiquiti Inc. (NYSE:UI) during the first quarter, Holdings Channel reports. The institutional investor bought 1,736 shares of the company’s stock, valued at approximately $1,372,000.

A number of other large investors also recently modified their holdings of the business. Arete Wealth Advisors LLC acquired a new position in shares of Ubiquiti in the 1st quarter valued at about $8,779,000. Bank of America Corp DE grew its position in shares of Ubiquiti by 22.3% during the 1st quarter. Bank of America Corp DE now owns 13,750 shares of the company’s stock valued at $10,867,000 after buying an additional 2,508 shares during the last quarter. Cim LLC acquired a new stake in Ubiquiti during the first quarter worth about $2,594,000. Arkadios Wealth Advisors acquired a new stake in Ubiquiti during the first quarter worth about $341,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Ubiquiti by 20.8% in the first quarter. EverSource Wealth Advisors LLC now owns 145 shares of the company’s stock worth $115,000 after acquiring an additional 25 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Stock Up 4.6%

Shares of NYSE:UI opened at $557.67 on Friday. The company has a market cap of $33.75 billion, a PE ratio of 35.84 and a beta of 1.31. The company’s 50-day moving average price is $556.27 and its 200 day moving average price is $688.39. Ubiquiti Inc. has a fifty-two week low of $380.00 and a fifty-two week high of $1,099.99.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, May 8th. The company reported $3.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.41). Ubiquiti had a net margin of 30.43% and a return on equity of 95.62%. The firm had revenue of $788.20 million for the quarter, compared to analyst estimates of $814.30 million. Ubiquiti’s revenue for the quarter was up 18.7% on a year-over-year basis. As a group, equities analysts anticipate that Ubiquiti Inc. will post 14.82 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 26th. Stockholders of record on Monday, May 18th were given a dividend of $0.80 per share. The ex-dividend date was Monday, May 18th. This represents a $3.20 annualized dividend and a dividend yield of 0.6%. Ubiquiti’s payout ratio is currently 20.57%.

Wall Street Analysts Forecast Growth

UI has been the subject of a number of research reports. Wall Street Zen downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research note on Monday, April 27th. Barclays increased their price target on Ubiquiti from $527.00 to $672.00 and gave the stock an “underweight” rating in a research report on Monday, May 11th. BWS Financial reissued a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a report on Wednesday, July 8th. Weiss Ratings lowered Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Finally, Zacks Research upgraded Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $750.67.

Ubiquiti Profile

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi‑Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well‑known lines—most notably UniFi for managed LAN/Wi‑Fi and networked video, AmpliFi for consumer Wi‑Fi, and product families targeting service‑provider and point‑to‑point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud‑enabled control as core features of its platform approach.