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NEW YORK—Kevin Radigan, Chief Accounting Officer at Ubiquiti Inc. (NYSE:UI), recently sold 1,000 shares of the company's common stock. The transaction, executed on February 12, 2025, was carried out at a weighted average price of $347.99 per share, totaling approximately $347,990. Following this sale, Radigan retains ownership of 2,484 shares in the company. The sale comes as the stock has experienced an 11.94% decline over the past week, despite posting impressive gains of 183% over the last year. According to InvestingPro analysis, the company currently trades at a P/E ratio of 46.5 and shows signs of being overvalued relative to its Fair Value estimates.
The sale was conducted in multiple transactions, with prices ranging from $347.7 to $348.195 per share, according to the filing with the Securities and Exchange Commission. The transaction reflects Radigan's direct ownership in the company. With a market capitalization of $20.76 billion, Ubiquiti maintains strong financial health, as indicated by its "GOOD" overall rating on InvestingPro, which offers comprehensive insider trading analysis and 13 additional ProTips for deeper insight into the company's performance.
In other recent news, Ubiquiti Inc. posted impressive fiscal second-quarter results, surpassing analyst expectations. The networking equipment maker reported adjusted earnings per share of $2.28, outpacing the consensus estimate of $1.86 by $0.42. Revenue was recorded at $599.9 million, notably higher than analysts' forecast of $510.41 million, marking a 29% YoY increase.
This robust performance was fueled by growth in both its Enterprise Technology and Service Provider Technology segments, with revenues jumping 32.4% to $518.2 million and 11.2% to $81.7 million respectively. Additionally, Ubiquiti's gross margin expanded to 41.2% from the previous year's 38.2%, primarily due to a favorable product mix and reduced inventory-related costs.
Moreover, the company announced a quarterly dividend of $0.60 per share, payable to shareholders of record as of February 18, 2025. These recent developments reflect Ubiquiti's ability to exceed expectations in a challenging macroeconomic environment.
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