Sierra Summit Advisors LLC Buys New Stake in Ubiquiti Inc. (NYSE:UI)

Sierra Summit Advisors LLC purchased a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,655 shares of the company's stock, valued at approximately $549,000.

A number of other institutional investors have also added to or reduced their stakes in UI. Arrowstreet Capital Limited Partnership lifted its stake in Ubiquiti by 926.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after purchasing an additional 102,268 shares in the last quarter. Vanguard Group Inc. lifted its position in Ubiquiti by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock valued at $31,369,000 after purchasing an additional 2,294 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Ubiquiti by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock worth $21,197,000 after buying an additional 765 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Ubiquiti by 95.0% during the 4th quarter. Pacer Advisors Inc. now owns 61,825 shares of the company's stock worth $20,522,000 after acquiring an additional 30,118 shares during the last quarter. Finally, Norges Bank purchased a new position in Ubiquiti in the fourth quarter worth $16,166,000. Hedge funds and other institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on UI. Barclays reduced their price objective on Ubiquiti from $236.00 to $222.00 and set an "underweight" rating on the stock in a research report on Monday, February 10th. BWS Financial reissued a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a research note on Friday, April 4th.

Remove Ads

Ubiquiti Trading Up 2.7 %

Shares of NYSE UI traded up $8.20 during midday trading on Friday, reaching $307.94. The company had a trading volume of 90,209 shares, compared to its average volume of 81,049. The firm's fifty day moving average price is $324.85 and its 200-day moving average price is $323.31. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a one year low of $104.24 and a one year high of $469.98. The stock has a market cap of $18.63 billion, a PE ratio of 41.84 and a beta of 1.31.

Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.12. Ubiquiti had a net margin of 20.68% and a return on equity of 296.82%. During the same period in the previous year, the business earned $1.36 EPS. On average, equities research analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Tuesday, February 18th were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, February 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.78%. Ubiquiti's dividend payout ratio is presently 32.61%.

Insider Activity at Ubiquiti

In other Ubiquiti news, CAO Kevin Radigan sold 1,000 shares of the company's stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total value of $347,990.00. Following the completion of the sale, the chief accounting officer now owns 2,484 shares in the company, valued at $864,407.16. This represents a 28.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 93.10% of the stock is owned by insiders.

Ubiquiti Company 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.