Ubiquiti Inc. (NYSE:UI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Ubiquiti Inc. (NYSE:UI) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,639 shares of the company’s stock after selling 1,584 shares during the quarter. Bank of New York Mellon Corp’s holdings in Ubiquiti were worth $19,427,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of UI. Golden State Wealth Management LLC acquired a new position in Ubiquiti in the 1st quarter valued at $25,000. Versant Capital Management Inc raised its holdings in shares of Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock valued at $34,000 after buying an additional 92 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock worth $40,000 after purchasing an additional 39 shares in the last quarter. Sterling Capital Management LLC boosted its position in 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 during the last quarter. Finally, Lazard Asset Management LLC purchased a new position in Ubiquiti in the fourth quarter valued at about $74,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on UI. Barclays increased 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. BWS Financial restated a “buy” rating and issued a $440.00 target price on shares of Ubiquiti in a research note on Friday, July 11th.

Ubiquiti Trading Up 3.0%

Shares of Ubiquiti stock opened at $460.45 on Friday. The stock has a market capitalization of $27.85 billion, a price-to-earnings ratio of 50.71 and a beta of 1.34. Ubiquiti Inc. has a twelve month low of $156.94 and a twelve month high of $469.98. The business’s 50 day simple moving average is $406.48 and its 200-day simple moving average is $363.71.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.52%. The ex-dividend date was Monday, May 19th. Ubiquiti’s dividend payout ratio is presently 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.