Empowered Funds LLC Makes New $323,000 Investment in Ubiquiti Inc. (NYSE:UI)

Empowered Funds LLC bought a new stake in Ubiquiti Inc. (NYSE:UI) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 1,456 shares of the company’s stock, valued at approximately $323,000.

Several other hedge funds and other institutional investors also recently modified their holdings of UI. Huntington National Bank boosted its position in shares of Ubiquiti by 267.6% during the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after buying an additional 91 shares during the period. nVerses Capital LLC acquired a new position in Ubiquiti during the 2nd quarter worth $44,000. Raleigh Capital Management Inc. acquired a new position in Ubiquiti during the 3rd quarter worth $47,000. Hanseatic Management Services Inc. bought a new position in shares of Ubiquiti in the third quarter worth $76,000. Finally, Atria Investments Inc acquired a new position in shares of Ubiquiti during the third quarter valued at $210,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on UI. Barclays upped their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. BWS Financial upped their price target on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th.

Ubiquiti Trading Up 1.2 %

Shares of Ubiquiti stock opened at $362.72 on Tuesday. The business has a fifty day simple moving average of $263.84 and a 200-day simple moving average of $198.89. Ubiquiti Inc. has a fifty-two week low of $104.24 and a fifty-two week high of $366.00. The firm has a market cap of $21.93 billion, a price-to-earnings ratio of 56.15 and a beta of 1.13. The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80.

Ubiquiti (NYSE:UI) last issued 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). Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. The business had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. The company’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.60 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.66%. Ubiquiti’s payout ratio is currently 37.15%.

Ubiquiti Profile

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.