Trek Financial LLC Invests $536,000 in Ubiquiti Inc. (NYSE:UI)

Trek Financial LLC acquired a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,729 shares of the company's stock, valued at approximately $536,000.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Ubiquiti in the fourth quarter valued at $15,425,000. Raymond James Financial Inc. purchased a new position in Ubiquiti in the fourth quarter valued at $1,246,000. Wealthfront Advisers LLC purchased a new position in Ubiquiti in the fourth quarter valued at $9,274,000. HighTower Advisors LLC purchased a new position in Ubiquiti in the fourth quarter valued at $1,531,000. Finally, Farther Finance Advisors LLC boosted its holdings in Ubiquiti by 47.0% in the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after purchasing an additional 39 shares during the period. 4.00% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

UI has been the subject of a number of recent analyst reports. BWS Financial reaffirmed a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a report on Monday, May 12th. Barclays lifted their price target on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a report on Monday, May 12th.

Ubiquiti Trading Up 0.6%

Shares of Ubiquiti stock traded up $2.41 during trading hours on Thursday, reaching $405.42. 37,147 shares of the company's stock were exchanged, compared to its average volume of 87,427. Ubiquiti Inc. has a 52-week low of $149.45 and a 52-week high of $469.98. The firm has a market capitalization of $24.52 billion, a price-to-earnings ratio of 44.65 and a beta of 1.34. The company has a fifty day moving average of $397.01 and a 200-day moving average of $359.93.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.59%. Ubiquiti's payout ratio is 26.43%.

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.