Ubiquiti Inc. $UI Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of Ubiquiti Inc. (NYSE:UI) by 54.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 8,456 shares of the company’s stock after acquiring an additional 2,985 shares during the quarter. American Century Companies Inc.’s holdings in Ubiquiti were worth $3,481,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in UI. Public Employees Retirement System of Ohio increased its holdings in Ubiquiti by 2.0% in the second quarter. Public Employees Retirement System of Ohio now owns 1,307 shares of the company’s stock valued at $538,000 after buying an additional 25 shares during the last quarter. Valeo Financial Advisors LLC boosted its position in shares of Ubiquiti by 2.5% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,025 shares of the company’s stock worth $422,000 after acquiring an additional 25 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Ubiquiti by 20.5% in the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company’s stock valued at $65,000 after acquiring an additional 27 shares during the last quarter. Wedmont Private Capital increased its holdings in shares of Ubiquiti by 4.7% in the 2nd quarter. Wedmont Private Capital now owns 697 shares of the company’s stock valued at $281,000 after acquiring an additional 31 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Ubiquiti by 2.4% during the 1st quarter. US Bancorp DE now owns 1,564 shares of the company’s stock worth $485,000 after acquiring an additional 37 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Price Performance

UI stock opened at $581.54 on Tuesday. The company has a market cap of $35.18 billion, a price-to-earnings ratio of 44.46 and a beta of 1.38. The company has a fifty day moving average price of $653.31 and a 200 day moving average price of $532.39. Ubiquiti Inc. has a 12 month low of $255.00 and a 12 month high of $803.59.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, November 7th. The company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $2.48 by $0.98. Ubiquiti had a net margin of 28.72% and a return on equity of 132.71%. The company had revenue of $733.77 million for the quarter, compared to analyst estimates of $702.38 million. As a group, analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Monday, November 17th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.6%. Ubiquiti’s dividend payout ratio is currently 24.46%.

Insiders Place Their Bets

In other Ubiquiti news, CAO Kevin Radigan sold 350 shares of Ubiquiti stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $576.58, for a total value of $201,803.00. Following the transaction, the chief accounting officer directly owned 2,768 shares in the company, valued at approximately $1,595,973.44. This trade represents a 11.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 93.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on UI shares. Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 3rd. UBS Group set a $600.00 target price on shares of Ubiquiti in a report on Monday, August 25th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a research note on Monday, December 1st. Wall Street Zen cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Saturday, November 15th. Finally, BWS Financial reaffirmed a “buy” rating and set a $720.00 price objective on shares of Ubiquiti in a report on Tuesday, November 11th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $591.67.

About Ubiquiti

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.