Ubiquiti Inc. (NYSE:UI) Stock Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc grew its position in shares of Ubiquiti Inc. (NYSE:UI) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,862 shares of the company’s stock after buying an additional 94 shares during the period. CIBC Asset Management Inc’s holdings in Ubiquiti were worth $618,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Ubiquiti by 4,880.2% during the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after buying an additional 13,079 shares during the last quarter. Empowered Funds LLC bought a new position in Ubiquiti during the 3rd quarter worth approximately $323,000. Algert Global LLC bought a new position in Ubiquiti during the 3rd quarter worth approximately $838,000. MML Investors Services LLC bought a new position in Ubiquiti during the 3rd quarter worth approximately $327,000. Finally, Semanteon Capital Management LP bought a new position in Ubiquiti during the 3rd quarter worth approximately $599,000. Institutional investors own 4.00% of the company’s stock.

Insider Activity at Ubiquiti

In other news, CAO Kevin Radigan sold 1,000 shares of Ubiquiti stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $347.99, for a total transaction of $347,990.00. Following the transaction, the chief accounting officer now directly owns 2,484 shares in the company, valued at approximately $864,407.16. This trade represents a 28.70 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 93.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

UI has been the topic of several recent research reports. BWS Financial reissued a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a report on Monday, February 10th. Barclays cut their price target on Ubiquiti from $236.00 to $222.00 and set an “underweight” rating on the stock in a report on Monday, February 10th. Finally, StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th.

Ubiquiti Trading Down 4.8 %

Shares of NYSE UI opened at $321.03 on Friday. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $469.98. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31. The company has a market cap of $19.42 billion, a price-to-earnings ratio of 43.62 and a beta of 1.14. The stock’s 50 day simple moving average is $369.12 and its 200 day simple moving average is $293.06.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, February 14th. The company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 296.82% and a net margin of 20.68%. During the same period in the previous year, the company posted $1.36 EPS. Equities research analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.75%. The ex-dividend date is Tuesday, February 18th. Ubiquiti’s dividend payout ratio is currently 32.61%.

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.