First Trust Advisors LP Has $20.11 Million Stock Position in Ubiquiti Inc. $UI

First Trust Advisors LP lowered its position in shares of Ubiquiti Inc. (NYSE:UI) by 33.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,450 shares of the company’s stock after selling 13,016 shares during the quarter. First Trust Advisors LP’s holdings in Ubiquiti were worth $20,113,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Blue Trust Inc. boosted its holdings in Ubiquiti by 87.5% in the fourth quarter. Blue Trust Inc. now owns 45 shares of the company’s stock valued at $25,000 after acquiring an additional 21 shares during the last quarter. Vision Retirement LLC bought a new stake in Ubiquiti during the 1st quarter worth about $25,000. Quarry LP bought a new stake in Ubiquiti during the 3rd quarter worth about $34,000. CIBC Private Wealth Group LLC raised its holdings in Ubiquiti by 238.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock worth $39,000 after purchasing an additional 50 shares during the last quarter. Finally, Cherry Tree Wealth Management LLC lifted its position in Ubiquiti by 50.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock valued at $42,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

UI has been the topic of several recent research reports. BWS Financial reaffirmed a “buy” rating and issued a $980.00 target price on shares of Ubiquiti in a research note on Wednesday, July 8th. Weiss Ratings downgraded shares of Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Wall Street Zen lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Monday, April 27th. Zacks Research raised shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Finally, Barclays raised their price objective on shares of Ubiquiti from $527.00 to $672.00 and gave the company an “underweight” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $750.67.

Ubiquiti Trading Down 2.2%

NYSE UI opened at $522.96 on Thursday. Ubiquiti Inc. has a 12 month low of $380.00 and a 12 month high of $1,099.99. The stock has a 50-day simple moving average of $558.34 and a 200 day simple moving average of $689.49. The company has a market capitalization of $31.65 billion, a PE ratio of 33.61 and a beta of 1.31.

Ubiquiti (NYSE:UI) last issued its earnings results on Friday, May 8th. The company reported $3.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.29 by ($0.41). Ubiquiti had a return on equity of 95.62% and a net margin of 30.43%.The company had revenue of $788.20 million for the quarter, compared to the consensus estimate of $814.30 million. The business’s quarterly revenue was up 18.7% compared to the same quarter last year. As a group, sell-side analysts predict that Ubiquiti Inc. will post 14.82 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 26th. Investors of record on Monday, May 18th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date was Monday, May 18th. Ubiquiti’s dividend payout ratio (DPR) is currently 20.57%.

About Ubiquiti

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.