Oppenheimer & Co. Inc. Decreases Stock Holdings in Ubiquiti Inc. (NYSE:UI)

Oppenheimer & Co. Inc. reduced its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,871 shares of the company’s stock after selling 600 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Ubiquiti were worth $3,741,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Versor Investments LP purchased a new stake in shares of Ubiquiti during the 3rd quarter valued at $244,000. Atria Investments Inc purchased a new stake in Ubiquiti during the third quarter worth about $210,000. Hanseatic Management Services Inc. bought a new stake in Ubiquiti in the third quarter worth about $76,000. US Bancorp DE boosted its stake in Ubiquiti by 3.9% in the third quarter. US Bancorp DE now owns 1,537 shares of the company’s stock valued at $341,000 after acquiring an additional 57 shares during the last quarter. Finally, Semanteon Capital Management LP bought a new position in shares of Ubiquiti during the 3rd quarter valued at approximately $599,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Analysts Set New Price Targets

UI has been the topic of a number of research reports. Barclays lifted their price target 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 boosted their target price on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a report on Monday, November 11th.

Ubiquiti Stock Performance

NYSE UI opened at $334.85 on Friday. The company’s 50 day moving average is $243.08 and its 200-day moving average is $186.31. The firm has a market cap of $20.25 billion, a P/E ratio of 51.83 and a beta of 1.13. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $355.31. The company has a quick ratio of 1.59, a current ratio of 2.54 and a debt-to-equity ratio of 2.80.

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

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s payout ratio is presently 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.