Empowered Funds LLC Acquires Shares of 1,456 Ubiquiti Inc. (NYSE:UI)

Empowered Funds LLC bought a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,456 shares of the company's stock, valued at approximately $323,000.

Several other large investors have also recently bought and sold shares of the business. SW Investment Management LLC increased its stake in Ubiquiti by 9.1% in the second quarter. SW Investment Management LLC now owns 300,000 shares of the company's stock valued at $43,698,000 after purchasing an additional 25,000 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Ubiquiti by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company's stock valued at $20,349,000 after buying an additional 2,041 shares during the last quarter. Vanguard Group Inc. raised its stake in Ubiquiti by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company's stock worth $11,332,000 after acquiring an additional 18,986 shares in the last quarter. Millennium Management LLC lifted its position in Ubiquiti by 86.2% in the second quarter. Millennium Management LLC now owns 58,349 shares of the company's stock valued at $8,499,000 after acquiring an additional 27,011 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in Ubiquiti by 88.8% in the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company's stock valued at $3,372,000 after acquiring an additional 11,076 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on UI. Barclays lifted their target price on Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a research report on Monday, November 11th. BWS Financial boosted their price objective 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 upgraded shares of Ubiquiti from a "hold" rating to a "buy" rating in a research report on Sunday, November 17th.

Ubiquiti Stock Performance

Shares of NYSE:UI traded down $6.21 on Tuesday, reaching $356.51. The company's stock had a trading volume of 58,754 shares, compared to its average volume of 77,397. Ubiquiti Inc. has a 52-week low of $104.24 and a 52-week high of $366.00. The stock has a market capitalization of $21.56 billion, a P/E ratio of 55.19 and a beta of 1.13. The stock's 50-day moving average is $266.83 and its two-hundred day moving average is $200.51. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts' consensus estimates of $1.91 by ($0.17). The company had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. The firm's revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.67%. Ubiquiti's dividend payout ratio is currently 37.15%.

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.