Maverick Capital Ltd. Has $2.78 Million Holdings in Ubiquiti Inc. (NYSE:UI)

Maverick Capital Ltd. boosted its stake in Ubiquiti Inc. (NYSE:UI) by 76.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,093 shares of the company’s stock after purchasing an additional 8,264 shares during the quarter. Maverick Capital Ltd.’s holdings in Ubiquiti were worth $2,781,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Parallel Advisors LLC boosted its position in shares of Ubiquiti by 116.5% during the fourth quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock worth $31,000 after purchasing an additional 120 shares in the last quarter. nVerses Capital LLC acquired a new position in Ubiquiti in the second quarter valued at about $44,000. Fairman Group LLC acquired a new position in Ubiquiti in the fourth quarter valued at about $52,000. Covestor Ltd increased its holdings in shares of Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after acquiring an additional 116 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of Ubiquiti during the 4th quarter valued at about $66,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Up 2.1 %

NYSE:UI opened at $220.63 on Friday. The company has a market cap of $13.34 billion, a PE ratio of 38.09 and a beta of 1.16. The stock has a 50-day simple moving average of $186.64 and a 200 day simple moving average of $149.92. The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.59 and a current ratio of 3.22. Ubiquiti Inc. has a 52-week low of $103.00 and a 52-week high of $223.63.

Ubiquiti (NYSE:UI) last released its quarterly earnings results on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The firm had revenue of $507.50 million for the quarter, compared to analyst estimates of $538.23 million. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts expect 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. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.40 annualized dividend and a yield of 1.09%. Ubiquiti’s dividend payout ratio (DPR) is presently 41.45%.

Analysts Set New Price Targets

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

Ubiquiti Profile

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.