Wells Fargo & Company MN grew its holdings in Ubiquiti Inc. (NYSE:UI) by 8.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,217 shares of the company’s stock after purchasing an additional 4,046 shares during the period. Wells Fargo & Company MN owned about 0.08% of Ubiquiti worth $7,251,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in UI. US Bancorp DE increased its stake in Ubiquiti by 25.0% in the first quarter. US Bancorp DE now owns 696 shares of the company’s stock worth $98,000 after purchasing an additional 139 shares during the period. Russell Investments Group Ltd. increased its stake in Ubiquiti by 830.2% in the fourth quarter. Russell Investments Group Ltd. now owns 586 shares of the company’s stock worth $109,000 after purchasing an additional 523 shares during the period. Point72 Hong Kong Ltd purchased a new stake in Ubiquiti in the fourth quarter worth $159,000. First Republic Investment Management Inc. purchased a new stake in Ubiquiti in the fourth quarter worth $219,000. Finally, Quantbot Technologies LP purchased a new stake in Ubiquiti in the fourth quarter worth $226,000. Institutional investors and hedge funds own 10.07% of the company’s stock.
UI has been the topic of a number of recent analyst reports. Credit Suisse Group increased their target price on Ubiquiti from $127.00 to $132.00 and gave the stock an “underperform” rating in a research note on Monday, May 11th. Barclays increased their target price on Ubiquiti from $115.00 to $126.00 and gave the stock an “underweight” rating in a research note on Monday, May 11th. Finally, Zacks Investment Research lowered Ubiquiti from a “buy” rating to a “hold” rating in a research note on Friday, May 22nd. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $156.25.
Shares of UI stock opened at $171.28 on Tuesday. Ubiquiti Inc. has a 1-year low of $107.22 and a 1-year high of $199.91. The stock’s 50-day moving average is $176.57 and its 200 day moving average is $162.27. The company has a market cap of $10.78 billion, a P/E ratio of 31.96, a PEG ratio of 2.47 and a beta of 1.14.
Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, May 8th. The company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.26. Ubiquiti had a negative return on equity of 191.57% and a net margin of 28.56%. The company had revenue of $337.40 million for the quarter, compared to the consensus estimate of $310.32 million. The company’s revenue was up 18.4% on a year-over-year basis. On average, sell-side analysts predict that Ubiquiti Inc. will post 5.56 EPS for the current fiscal year.
Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers worldwide. It 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 enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, and other WLAN products, as well as offers consumer products under the Ubiquiti Labs brand name.
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