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

Trek Financial LLC bought a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,729 shares of the company's stock, valued at approximately $536,000.

Several other large investors also recently made changes to their positions in the business. National Bank of Canada FI boosted its position in shares of Ubiquiti by 10.4% in the 4th quarter. National Bank of Canada FI now owns 350 shares of the company's stock worth $116,000 after purchasing an additional 33 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after acquiring an additional 39 shares during the period. Sterling Capital Management LLC increased its position in shares of Ubiquiti by 30.2% in the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after buying an additional 39 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Ubiquiti by 6.0% in the 1st quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after buying an additional 41 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Ubiquiti by 26.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock valued at $112,000 after buying an additional 75 shares in the last quarter. Institutional investors own 4.00% of the company's stock.

Analyst Ratings Changes

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

Ubiquiti Stock Performance

Ubiquiti stock traded up $4.72 during midday trading on Friday, reaching $404.34. The stock had a trading volume of 168,674 shares, compared to its average volume of 88,411. The firm's fifty day simple moving average is $398.31 and its 200-day simple moving average is $360.31. Ubiquiti Inc. has a 1-year low of $153.49 and a 1-year high of $469.98. The stock has a market capitalization of $24.46 billion, a P/E ratio of 44.53 and a beta of 1.34.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's dividend payout ratio (DPR) is currently 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.