Ubiquiti Inc. (NYSE:UI) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its position in Ubiquiti Inc. (NYSE:UI) by 20.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,813 shares of the company’s stock after purchasing an additional 5,045 shares during the quarter. JPMorgan Chase & Co.’s holdings in Ubiquiti were worth $6,610,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UI. DGS Capital Management LLC acquired a new position in shares of Ubiquiti during the 3rd quarter worth approximately $213,000. Tidal Investments LLC boosted its stake in Ubiquiti by 13.3% during the third quarter. Tidal Investments LLC now owns 18,505 shares of the company’s stock worth $4,103,000 after buying an additional 2,174 shares during the last quarter. M&T Bank Corp purchased a new stake in Ubiquiti in the 3rd quarter valued at $252,000. Barclays PLC grew its holdings in Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $2,959,000 after buying an additional 13,079 shares in the last quarter. Finally, MML Investors Services LLC acquired a new stake in shares of Ubiquiti in the 3rd quarter worth $327,000. Hedge funds and other institutional investors own 4.00% of the company’s stock.

Ubiquiti Stock Up 4.4 %

Shares of NYSE:UI opened at $410.98 on Thursday. The company has a market capitalization of $24.85 billion, a price-to-earnings ratio of 63.62 and a beta of 1.14. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $415.00. The business has a 50-day moving average price of $342.27 and a 200 day moving average price of $250.36. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, November 18th. Ubiquiti’s dividend payout ratio is presently 37.15%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on UI. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. BWS Financial increased their price target on shares of Ubiquiti from $385.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Barclays lifted their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

Ubiquiti 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.