Ubiquiti Inc. (NYSE:UI) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 54.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,476 shares of the company's stock after purchasing an additional 8,955 shares during the quarter. Northern Trust Corp's holdings in Ubiquiti were worth $8,456,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Barclays PLC boosted its position in shares of 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 purchasing an additional 13,079 shares during the period. Hanseatic Management Services Inc. boosted its position in shares of Ubiquiti by 12.0% in the 4th quarter. Hanseatic Management Services Inc. now owns 384 shares of the company's stock valued at $127,000 after purchasing an additional 41 shares during the period. Diversify Advisory Services LLC acquired a new stake in shares of Ubiquiti in the 4th quarter valued at about $273,000. Oxinas Partners Wealth Management LLC acquired a new stake in shares of Ubiquiti in the 4th quarter valued at about $699,000. Finally, Nisa Investment Advisors LLC acquired a new stake in shares of Ubiquiti in the 4th quarter valued at about $3,050,000. Hedge funds and other institutional investors own 4.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BWS Financial reissued a "buy" rating and issued a $440.00 target price on shares of Ubiquiti in a research report on Monday, May 12th. Barclays lifted their target price on Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research note on Monday, May 12th.

Ubiquiti Price Performance

UI stock traded up $0.91 during midday trading on Friday, hitting $393.18. 59,818 shares of the stock were exchanged, compared to its average volume of 82,160. The stock's 50-day moving average price is $335.92 and its 200-day moving average price is $346.52. The stock has a market cap of $23.78 billion, a price-to-earnings ratio of 53.42 and a beta of 1.32. Ubiquiti Inc. has a fifty-two week low of $139.06 and a fifty-two week high of $469.98. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22.

Ubiquiti Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Investors of record on Monday, May 19th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.61%. Ubiquiti's dividend payout ratio is presently 26.43%.

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.