Ubiquiti Inc. (NYSE:UI) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its holdings in Ubiquiti Inc. (NYSE:UI) by 3.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,768 shares of the company’s stock after purchasing an additional 58 shares during the quarter. CIBC Asset Management Inc’s holdings in Ubiquiti were worth $392,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of UI. Huntington National Bank increased its position in shares of Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after acquiring an additional 91 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Ubiquiti in the 2nd quarter worth about $44,000. Raleigh Capital Management Inc. bought a new position in shares of Ubiquiti during the third quarter valued at approximately $47,000. Covestor Ltd lifted its stake in Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after buying an additional 116 shares during the last quarter. Finally, Hanseatic Management Services Inc. bought a new position in Ubiquiti in the 3rd quarter worth about $76,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Price Performance

UI opened at $344.57 on Friday. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $355.31. The stock has a fifty day moving average price of $257.55 and a 200 day moving average price of $194.30. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of 53.34 and a beta of 1.13.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. Ubiquiti’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.70%. Ubiquiti’s dividend payout ratio (DPR) is 37.15%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. BWS Financial raised their price target on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays lifted their price target on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Finally, StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.