Rhumbline Advisers Sells 271 Shares of Ubiquiti Inc. (NYSE:UI)

Rhumbline Advisers decreased its position in Ubiquiti Inc. (NYSE:UI) by 5.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,711 shares of the company’s stock after selling 271 shares during the quarter. Rhumbline Advisers’ holdings in Ubiquiti were worth $686,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. SW Investment Management LLC grew its holdings in Ubiquiti by 17.3% in the 4th quarter. SW Investment Management LLC now owns 305,000 shares of the company’s stock valued at $42,566,000 after buying an additional 45,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Ubiquiti by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock valued at $20,349,000 after acquiring an additional 2,041 shares during the period. Vanguard Group Inc. boosted its position in shares of Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock valued at $11,332,000 after acquiring an additional 18,986 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Ubiquiti by 17.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,177 shares of the company’s stock worth $5,049,000 after acquiring an additional 5,267 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Ubiquiti by 6.8% during the fourth quarter. Oppenheimer & Co. Inc. now owns 18,190 shares of the company’s stock worth $2,539,000 after acquiring an additional 1,160 shares during the period. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. BWS Financial increased their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Barclays lowered their price target on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 27th.

Ubiquiti Stock Performance

NYSE:UI opened at $219.63 on Wednesday. The stock has a market capitalization of $13.28 billion, a P/E ratio of 37.93 and a beta of 1.16. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. Ubiquiti Inc. has a 1 year low of $103.00 and a 1 year high of $221.22. The firm has a 50 day moving average of $185.77 and a 200-day moving average of $149.46.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing the consensus estimate of $1.91 by ($0.17). The business had revenue of $507.50 million for the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.09%. The ex-dividend date was Tuesday, September 3rd. Ubiquiti’s dividend payout ratio is 41.45%.

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.