Fmr LLC Boosts Stock Position in Ubiquiti Inc. (NYSE:UI)

Fmr LLC boosted its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 200.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,764 shares of the company’s stock after purchasing an additional 1,845 shares during the period. Fmr LLC’s holdings in Ubiquiti were worth $613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pacer Advisors Inc. bought a new position in Ubiquiti in the third quarter worth about $7,030,000. Millennium Management LLC raised its position in shares of Ubiquiti by 86.2% in the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock worth $8,499,000 after acquiring an additional 27,011 shares in the last quarter. SW Investment Management LLC lifted its stake in shares of Ubiquiti by 9.1% in the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock valued at $43,698,000 after purchasing an additional 25,000 shares during the period. AQR Capital Management LLC boosted its position in shares of Ubiquiti by 88.8% during the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock valued at $3,372,000 after purchasing an additional 11,076 shares in the last quarter. Finally, Maverick Capital Ltd. grew its stake in Ubiquiti by 76.3% in the second quarter. Maverick Capital Ltd. now owns 19,093 shares of the company’s stock worth $2,781,000 after purchasing an additional 8,264 shares during the period. Institutional investors own 4.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on UI. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. BWS Financial upped their price objective on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Finally, Barclays lifted their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a report on Monday, November 11th.

Ubiquiti Stock Performance

Shares of Ubiquiti stock opened at $326.49 on Thursday. Ubiquiti Inc. has a 1 year low of $104.24 and a 1 year high of $366.33. The firm’s 50-day moving average is $305.71 and its 200 day moving average is $222.43. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of 50.54 and a beta of 1.12. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.60 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.74%. Ubiquiti’s dividend payout ratio is presently 37.15%.

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.