Harvest Fund Management Co. Ltd Boosts Stake in Ubiquiti Inc. $UI

Harvest Fund Management Co. Ltd raised its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 31.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,505 shares of the company’s stock after purchasing an additional 1,327 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Ubiquiti were worth $3,636,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of UI. Arrowstreet Capital Limited Partnership raised its position in shares of Ubiquiti by 47.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 163,960 shares of the company’s stock valued at $108,309,000 after purchasing an additional 52,744 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Ubiquiti by 40.3% during the third quarter. Pacer Advisors Inc. now owns 105,858 shares of the company’s stock worth $69,928,000 after buying an additional 30,420 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ubiquiti by 10.8% during the third quarter. Vanguard Group Inc. now owns 95,561 shares of the company’s stock worth $63,126,000 after buying an additional 9,282 shares in the last quarter. Capital World Investors increased its stake in shares of Ubiquiti by 315.9% in the third quarter. Capital World Investors now owns 86,086 shares of the company’s stock worth $56,867,000 after buying an additional 65,386 shares during the last quarter. Finally, Long Walk Management LP increased its stake in shares of Ubiquiti by 22.0% in the third quarter. Long Walk Management LP now owns 84,400 shares of the company’s stock worth $55,753,000 after buying an additional 15,215 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on UI. BWS Financial reiterated a “buy” rating and set a $720.00 price objective on shares of Ubiquiti in a research note on Monday, February 9th. Wall Street Zen raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, March 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Ubiquiti in a research note on Monday, December 29th. Zacks Research raised shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 3rd. Finally, Barclays lifted their price target on Ubiquiti from $455.00 to $527.00 and gave the stock an “underweight” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Ubiquiti presently has an average rating of “Moderate Buy” and an average price target of $615.67.

Ubiquiti Price Performance

Shares of UI opened at $756.72 on Friday. The stock has a market capitalization of $45.80 billion, a PE ratio of 51.55 and a beta of 1.33. The business’s fifty day moving average price is $652.80 and its 200 day moving average price is $631.24. Ubiquiti Inc. has a 12-month low of $255.00 and a 12-month high of $803.59.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, February 6th. The company reported $3.88 earnings per share for the quarter, beating the consensus estimate of $3.08 by $0.80. The firm had revenue of $814.87 million during the quarter, compared to analyst estimates of $716.95 million. Ubiquiti had a net margin of 29.90% and a return on equity of 113.21%. The firm’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.28 earnings per share. As a group, research analysts anticipate that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Tuesday, February 17th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, February 17th. This represents a $3.20 annualized dividend and a dividend yield of 0.4%. Ubiquiti’s payout ratio is 21.80%.

Ubiquiti Company Profile

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.