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

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

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in shares of Ubiquiti by 10.4% during the 4th quarter. National Bank of Canada FI now owns 350 shares of the company's stock valued at $116,000 after acquiring an additional 33 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Ubiquiti by 47.0% during 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 last quarter. Sterling Capital Management LLC lifted its position in shares of Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after acquiring an additional 39 shares during the last quarter. Parallel Advisors LLC lifted its position in shares of Ubiquiti by 6.0% during the 1st quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after acquiring an additional 41 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in shares of Ubiquiti by 26.2% during the 1st quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock valued at $112,000 after acquiring an additional 75 shares during the last quarter. 4.00% of the stock is owned by institutional investors.

Ubiquiti Stock Performance

Shares of NYSE:UI traded down $2.36 during midday trading on Wednesday, hitting $403.47. 114,102 shares of the stock were exchanged, compared to its average volume of 87,537. Ubiquiti Inc. has a 52-week low of $148.55 and a 52-week high of $469.98. The business's fifty day simple moving average is $395.48 and its two-hundred day simple moving average is $359.63. The company has a market capitalization of $24.41 billion, a PE ratio of 44.44 and a beta of 1.34.

Ubiquiti Dividend Announcement

The firm also recently announced 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 was Monday, May 19th. Ubiquiti's payout ratio is 26.43%.

Wall Street Analysts Forecast Growth

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