Norges Bank Acquires New Holdings in Ubiquiti Inc. $UI

Norges Bank acquired a new stake in shares of Ubiquiti Inc. (NYSE:UI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 51,554 shares of the company’s stock, valued at approximately $28,527,000. Norges Bank owned 0.09% of Ubiquiti as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Ubiquiti by 87.5% in the fourth quarter. Blue Trust Inc. now owns 45 shares of the company’s stock worth $25,000 after purchasing an additional 21 shares in the last quarter. Cherry Tree Wealth Management LLC bought a new position in Ubiquiti during the third quarter valued at $33,000. Quarry LP bought a new position in Ubiquiti during the third quarter valued at $34,000. Flagship Harbor Advisors LLC purchased a new position in Ubiquiti during the fourth quarter worth $65,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Ubiquiti by 429.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 164 shares of the company’s stock worth $91,000 after acquiring an additional 133 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Down 1.5%

Shares of Ubiquiti stock opened at $564.23 on Wednesday. The firm’s 50 day moving average price is $797.57 and its 200-day moving average price is $693.89. Ubiquiti Inc. has a 52-week low of $368.42 and a 52-week high of $1,099.99. The company has a market cap of $34.15 billion, a P/E ratio of 36.26 and a beta of 1.29.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data 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 firm had revenue of $788.20 million during the quarter, compared to analysts’ expectations of $814.30 million. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. As a group, equities research analysts forecast that Ubiquiti Inc. will post 14.82 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on UI. Barclays raised their target price on shares of Ubiquiti from $527.00 to $672.00 and gave the stock an “underweight” rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Monday, April 27th. BWS Financial restated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a report on Monday, May 11th. Weiss Ratings lowered shares of Ubiquiti from a “buy (b)” rating to a “buy (b-)” rating in a report on Friday, May 29th. Finally, Zacks Research lowered shares of Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Ubiquiti has a consensus rating of “Hold” and an average target price of $750.67.

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.