Monday, June 17, 12:32 PMBofA/Merrill starts Ubiquiti (UBNT +6.4%) with a Buy and $21 PT. The firm touts the cost and scalability advantages of Ubiquiti's wireless transmission systems (aimed to a large extent at emerging markets) over "traditional high-touch, high-cost solutions," and the expansion of the company's product line to include "routers, point-to-point wireless, and ... enterprise solutions." Shares had been slumping recently after ripping higher earlier this spring thanks to a Q1 beat and strong Q2 guidance.
1 Comment[Tech, On the Move, Quick Ideas]
Tuesday, May 21, 12:59 PM
Five of 2013's biggest tech high-flyers - SolarCity (SCTY -10.1%), Himax (HIMX -6%), UniPixel (UNXL -9.1%), SunPower (SPWR -5.2%), and Ubiquiti (UBNT -4.4%), are seeing heavy losses today. Netflix (NFLX -0.9%), another big 2013 winner, is down moderately. Is this a sign tech momentum investors are looking to take some cash off the table? YTD gains: SCTY +287%. HIMX +200%. UNXL +72%. SPWR +282%. UBNT +56%. NFLX +156%.
Comment![Tech, On the Move]
Friday, May 17, 6:08 PM
Ubiquiti (UBNT) -5.9% AH after filing to sell 7.7M shares on behalf of existing shareholders through a public offering. CEO/NBA owner Robert Pera will be selling 1.7M shares, lowering his stake to 64.4% from 66.4%. Investment firm Summit Partners will be selling 6M, lowering its stake to 10.5% from 17.3%. The filing comes shortly after Ubiquiti closed near its 52-week high, and a week after shares took off in response to a Q1 beat and strong guidance. (S-1)
2 Comments[Tech, On the Move]
Friday, May 10, 12:09 PM
Ubiquiti (UBNT +21.2%) hits levels last seen 12 months ago after beating Q1 estimates and guiding for Q2 revenue of $90M-$96M and EPS of $0.26-$0.29 - that's above a consensus of $86.2M and $0.23. 32% of the float was shorted as of April 30. Raymond James has upgraded shares to Outperform, and Pac Crest is "encouraged by improving visibility and balance-sheet metrics" following a dismal 2012 featuring bad guidance, counterfeit product issues, inventory issues, and a few other things. On the earnings call, CEO/Memphis Grizzlies owner Robert Pera mentioned sales of Ubiquiti's airMAX wireless transmission systems rose 14% Q/Q.
Comment![Tech, On the Move, Earnings]
Thursday, February 7, 5:31 PMUbiquiti Networks (UBNT): FQ2 EPS of $0.2 beats by $0.01. Revenue of $74.9M (-15% Y/Y) beats by $3.32M. Shares +9.3% AH. (PR)
Comment![Earnings, Breaking News, Tech, On the Move]
Monday, December 17, 2012, 7:12 AMUbiquiti Networks Inc (UBNT) declares special dividend of $0.18/share quarterly dividend. For shareholders of record Dec. 24. Payable Dec. 28. Ex-div date Dec. 20. (PR)
Comment![Dividends]
Tuesday, November 13, 2012, 6:39 PM
Ubiquiti Networks (UBNT) -3.4% AH after disclosing CFO John Ritchie is leaving at year's end to "pursue other opportunities." A search has begun for a successor. Ubiquiti's accounting has been criticized in the past. (FQ1 results/guidance: I, II)
Comment![Tech, On the Move]