Salem Investment Counselors Inc. Lowers Stock Position in Ubiquiti Inc. (NYSE:UI)

Salem Investment Counselors Inc. lessened its holdings in Ubiquiti Inc. (NYSE:UI - Free Report) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,480 shares of the company's stock after selling 700 shares during the period. Salem Investment Counselors Inc.'s holdings in Ubiquiti were worth $6,352,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of UI. Arrowstreet Capital Limited Partnership lifted its position in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after acquiring an additional 102,268 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Ubiquiti by 100.1% in the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock valued at $32,927,000 after acquiring an additional 49,616 shares during the period. Norges Bank bought a new position in Ubiquiti during the 4th quarter valued at approximately $16,166,000. Proficio Capital Partners LLC bought a new position in shares of Ubiquiti during the fourth quarter valued at approximately $15,425,000. Finally, GAMMA Investing LLC lifted its position in shares of Ubiquiti by 37,116.4% in the 1st quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock worth $12,697,000 after purchasing an additional 40,828 shares during the period. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Performance

Shares of UI stock traded down $14.73 during trading hours on Friday, reaching $383.02. 96,758 shares of the company traded hands, compared to its average volume of 82,809. Ubiquiti Inc. has a 12-month low of $139.06 and a 12-month high of $469.98. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The company has a market cap of $23.17 billion, a P/E ratio of 52.04 and a beta of 1.35. The firm has a 50-day moving average price of $361.87 and a 200 day moving average price of $352.86.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.63%. Ubiquiti's payout ratio is currently 26.43%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UI. BWS Financial restated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a report on Monday, May 12th. Barclays boosted their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th.

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.