Salem Investment Counselors Inc. Sells 113 Shares of Ubiquiti Inc. (NYSE:UI)

Salem Investment Counselors Inc. lowered its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 0.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 22,409 shares of the company’s stock after selling 113 shares during the period. Salem Investment Counselors Inc.’s holdings in Ubiquiti were worth $2,596,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of UI. Quadrant Capital Group LLC lifted its position in Ubiquiti by 435.0% during the fourth quarter. Quadrant Capital Group LLC now owns 214 shares of the company’s stock worth $30,000 after acquiring an additional 174 shares during the last quarter. Parallel Advisors LLC lifted its position in Ubiquiti by 116.5% during the fourth quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock worth $31,000 after acquiring an additional 120 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Ubiquiti during the fourth quarter worth approximately $42,000. Fairman Group LLC acquired a new stake in Ubiquiti during the fourth quarter worth approximately $52,000. Finally, Signaturefd LLC lifted its position in Ubiquiti by 105.4% during the fourth quarter. Signaturefd LLC now owns 415 shares of the company’s stock worth $58,000 after acquiring an additional 213 shares during the last quarter. Institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Performance

NYSE UI opened at $143.49 on Monday. The firm’s fifty day moving average price is $130.91 and its two-hundred day moving average price is $126.37. The stock has a market cap of $8.68 billion, a PE ratio of 24.78 and a beta of 1.19. Ubiquiti Inc. has a fifty-two week low of $103.00 and a fifty-two week high of $189.33. The company has a debt-to-equity ratio of 32.43, a quick ratio of 1.84 and a current ratio of 3.95.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, May 10th. The company reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.77 by ($0.51). The business had revenue of $493.00 million during the quarter, compared to the consensus estimate of $497.51 million. Ubiquiti had a negative return on equity of 829.74% and a net margin of 18.30%. On average, equities analysts expect that Ubiquiti Inc. will post 5.71 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 28th. Investors of record on Monday, May 20th were issued a $0.60 dividend. The ex-dividend date was Friday, May 17th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.67%. Ubiquiti’s dividend payout ratio is presently 41.45%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on UI. BWS Financial restated a “buy” rating and set a $160.00 price objective on shares of Ubiquiti in a research report on Monday, May 13th. StockNews.com upgraded shares of Ubiquiti from a “sell” rating to a “hold” rating in a research report on Thursday, April 18th. Finally, Barclays lifted their price target on shares of Ubiquiti from $93.00 to $108.00 and gave the company an “underweight” rating in a research report on Monday, May 13th.

Ubiquiti Company 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.