Bank of New York Mellon Corp Has $19.43 Million Position in Ubiquiti Inc. (NYSE:UI)

Bank of New York Mellon Corp lowered its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 2.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,639 shares of the company's stock after selling 1,584 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.10% of Ubiquiti worth $19,427,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership raised its holdings in Ubiquiti by 926.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after acquiring an additional 102,268 shares during the last quarter. AQR Capital Management LLC grew 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 purchasing an additional 49,616 shares during the period. Norges Bank acquired a new position in Ubiquiti in the fourth quarter valued at $16,166,000. GAMMA Investing LLC lifted its position in Ubiquiti by 37,116.4% during the first quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock worth $12,697,000 after buying an additional 40,828 shares during the period. Finally, Abacus FCF Advisors LLC boosted its stake in Ubiquiti by 654.4% in the 1st quarter. Abacus FCF Advisors LLC now owns 33,116 shares of the company's stock worth $10,271,000 after buying an additional 28,726 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company's stock.

Analyst Upgrades and Downgrades

UI has been the topic 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 research note on Friday, July 11th. Barclays raised 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 Trading Down 1.8%

UI traded down $8.23 on Monday, reaching $452.18. The company had a trading volume of 41,161 shares, compared to its average volume of 88,509. The company has a market capitalization of $27.35 billion, a P/E ratio of 49.80 and a beta of 1.34. The company has a fifty day moving average of $406.48 and a 200-day moving average of $364.12. Ubiquiti Inc. has a one year low of $156.94 and a one year high of $469.98.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Monday, May 19th. Ubiquiti's payout ratio is 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.