Maverick Capital Ltd. Purchases 8,264 Shares of Ubiquiti Inc. (NYSE:UI)

Maverick Capital Ltd. boosted its position in shares of Ubiquiti Inc. (NYSE:UI) by 76.3% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 19,093 shares of the company’s stock after buying 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 filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in UI. SW Investment Management LLC lifted its position in shares of Ubiquiti by 17.3% in the fourth 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 raised its stake in Ubiquiti by 1.5% in the 2nd 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. lifted its holdings in Ubiquiti by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock valued at $11,332,000 after purchasing an additional 18,986 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Ubiquiti by 17.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,177 shares of the company’s stock valued at $5,049,000 after purchasing an additional 5,267 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Ubiquiti by 88.8% during the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after purchasing an additional 11,076 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

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

Ubiquiti Price Performance

Shares of Ubiquiti stock opened at $220.63 on Friday. The company has a 50-day simple moving average of $186.64 and a two-hundred day simple moving average of $149.92. Ubiquiti Inc. has a twelve month low of $103.00 and a twelve month high of $223.63. The stock has a market capitalization of $13.34 billion, a price-to-earnings ratio of 38.09 and a beta of 1.16. The company has a quick ratio of 1.59, a current ratio of 3.22 and a debt-to-equity ratio of 7.05.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The company had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were issued 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 of this dividend was Tuesday, September 3rd. Ubiquiti’s dividend payout ratio (DPR) is currently 41.45%.

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.