Fernwood Investment Management LLC boosted its stake in Ubiquiti Networks, Inc. (NASDAQ:UBNT) by 11.4% during the second quarter, Holdings Channel reports. The fund owned 22,450 shares of the Wireless communications provider’s stock after buying an additional 2,300 shares during the period. Fernwood Investment Management LLC’s holdings in Ubiquiti Networks were worth $1,167,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Ameritas Investment Partners Inc. purchased a new stake in shares of Ubiquiti Networks during the first quarter valued at approximately $113,000. Pacer Advisors Inc. boosted its stake in shares of Ubiquiti Networks by 22.2% in the first quarter. Pacer Advisors Inc. now owns 2,700 shares of the Wireless communications provider’s stock valued at $136,000 after buying an additional 490 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Ubiquiti Networks during the second quarter valued at approximately $144,000. Lazard Asset Management LLC boosted its stake in shares of Ubiquiti Networks by 26.0% in the first quarter. Lazard Asset Management LLC now owns 3,683 shares of the Wireless communications provider’s stock valued at $185,000 after buying an additional 760 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Ubiquiti Networks during the first quarter valued at approximately $218,000. 30.91% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Networks, Inc. (NASDAQ:UBNT) opened at 65.96 on Wednesday. The stock has a market capitalization of $5.29 billion, a PE ratio of 21.35 and a beta of 0.48. Ubiquiti Networks, Inc. has a 52-week low of $45.71 and a 52-week high of $67.80. The firm’s 50-day moving average is $55.77 and its 200 day moving average is $52.04.

Ubiquiti Networks (NASDAQ:UBNT) last posted its earnings results on Thursday, August 3rd. The Wireless communications provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.06. The company had revenue of $228.60 million for the quarter, compared to analyst estimates of $219.14 million. Ubiquiti Networks had a net margin of 29.76% and a return on equity of 47.10%. The business’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period last year, the business posted $0.69 earnings per share. On average, equities analysts forecast that Ubiquiti Networks, Inc. will post $3.67 earnings per share for the current year.

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UBNT has been the topic of several recent analyst reports. BidaskClub raised Ubiquiti Networks from a “hold” rating to a “buy” rating in a report on Tuesday, June 27th. Vetr lowered shares of Ubiquiti Networks from a “strong-buy” rating to a “buy” rating and set a $55.50 price target on the stock. in a research report on Monday, June 26th. Zacks Investment Research upgraded shares of Ubiquiti Networks from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, May 10th. Deutsche Bank AG lifted their price target on shares of Ubiquiti Networks from $38.00 to $40.00 and gave the stock a “hold” rating in a research report on Monday, May 8th. Finally, ValuEngine lowered shares of Ubiquiti Networks from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $54.87.

Ubiquiti Networks Company Profile

Ubiquiti Networks, Inc develops performance networking technology for service providers and enterprises. The Company offers a portfolio of networking products and solutions. Its service provider product platforms provide carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing.

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Institutional Ownership by Quarter for Ubiquiti Networks (NASDAQ:UBNT)

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