State Street Corp Has $16 Million Stock Holdings in Ubiquiti Inc. (NYSE:UI)

State Street Corp trimmed its position in shares of Ubiquiti Inc. (NYSE:UI) by 2.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 72,144 shares of the company’s stock after selling 2,015 shares during the period. State Street Corp’s holdings in Ubiquiti were worth $15,996,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in UI. Quantinno Capital Management LP raised its stake in shares of Ubiquiti by 91.7% in the 3rd quarter. Quantinno Capital Management LP now owns 3,671 shares of the company’s stock valued at $814,000 after buying an additional 1,756 shares in the last quarter. ClearAlpha Technologies LP bought a new stake in Ubiquiti in the third quarter valued at about $627,000. Edgestream Partners L.P. acquired a new position in Ubiquiti in the third quarter worth about $1,121,000. Verition Fund Management LLC acquired a new position in Ubiquiti in the third quarter worth about $626,000. Finally, FMR LLC boosted its holdings in Ubiquiti by 200.8% during the third quarter. FMR LLC now owns 2,764 shares of the company’s stock valued at $613,000 after purchasing an additional 1,845 shares in the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Stock Performance

NYSE UI opened at $350.66 on Wednesday. Ubiquiti Inc. has a 1-year low of $104.24 and a 1-year high of $366.33. The company has a 50 day moving average of $311.98 and a 200-day moving average of $227.05. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of 54.28 and a beta of 1.12.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.68%. Ubiquiti’s dividend payout ratio is 37.15%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of recent research reports. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Barclays increased their price objective on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Finally, BWS Financial boosted their target price on shares of Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

About Ubiquiti

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.