906 Ubiquiti Inc. $UI Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund cut its holdings in Ubiquiti Inc. (NYSE:UI) by 14.1% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,540 shares of the company’s stock after selling 906 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Ubiquiti were worth $3,144,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. New York Life Investment Management LLC increased its holdings in Ubiquiti by 29.5% during the 3rd quarter. New York Life Investment Management LLC now owns 1,191 shares of the company’s stock valued at $676,000 after acquiring an additional 271 shares in the last quarter. Fulcrum Asset Management LLP acquired a new position in Ubiquiti during the third quarter worth about $68,000. Parallel Advisors LLC lifted its holdings in shares of Ubiquiti by 2.8% in the third quarter. Parallel Advisors LLC now owns 1,045 shares of the company’s stock valued at $593,000 after purchasing an additional 28 shares in the last quarter. Calamos Wealth Management LLC purchased a new stake in shares of Ubiquiti in the third quarter valued at about $323,000. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Ubiquiti by 13.0% in the third quarter. Commonwealth Equity Services LLC now owns 1,961 shares of the company’s stock valued at $1,113,000 after purchasing an additional 226 shares in the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Stock Performance

Ubiquiti stock traded down $14.43 during midday trading on Friday, reaching $668.78. 65,811 shares of the company were exchanged, compared to its average volume of 90,998. The company has a market capitalization of $40.45 billion, a price-to-earnings ratio of 37.76 and a beta of 1.34. The firm’s 50-day simple moving average is $595.29 and its 200-day simple moving average is $660.44. Ubiquiti Inc. has a 1 year low of $500.23 and a 1 year high of $1,099.99.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, November 6th. The company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.25 by $1.07. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $977.45 million. Ubiquiti had a net margin of 30.08% and a return on equity of 80.29%. On average, analysts forecast that Ubiquiti Inc. will post 16.94 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 23rd. Stockholders of record on Monday, November 16th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, November 16th. Ubiquiti’s payout ratio is currently 22.59%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Barclays increased their price target on shares of Ubiquiti from $489.00 to $537.00 and gave the company an “underweight” rating in a research report on Monday, November 9th. Weiss Ratings downgraded Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. Zacks Research lowered Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 10th. BWS Financial reaffirmed a “buy” rating and issued a $980.00 target price on shares of Ubiquiti in a research note on Monday, November 9th. Finally, Wall Street Zen upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Ubiquiti has a consensus rating of “Hold” and an average price target of $758.50.

About Ubiquiti

Ubiquiti Inc. develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, switches and broadband wireless equipment, along with network management software and security devices such as cameras and access control systems. The company markets products under brands including UniFi, airMAX, EdgeMAX and AmpliFi. Its UniFi platform brings together networking, video surveillance and access control products with centralized management tools.