Zacks Investment Management Invests $8.89 Million in Ubiquiti Inc. (NYSE:UI)

Zacks Investment Management bought a new position in Ubiquiti Inc. (NYSE:UI - Free Report) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 40,104 shares of the company's stock, valued at approximately $8,892,000. Zacks Investment Management owned about 0.07% of Ubiquiti at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Empowered Funds LLC purchased a new position in Ubiquiti during the 3rd quarter worth $323,000. Algert Global LLC bought a new position in shares of Ubiquiti during the third quarter valued at about $838,000. Vanguard Group Inc. boosted its holdings in Ubiquiti by 24.1% during the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company's stock worth $11,332,000 after purchasing an additional 18,986 shares during the last quarter. Semanteon Capital Management LP bought a new stake in Ubiquiti in the 3rd quarter worth about $599,000. Finally, Marshall Wace LLP increased its stake in Ubiquiti by 104.4% in the 2nd quarter. Marshall Wace LLP now owns 5,980 shares of the company's stock valued at $871,000 after buying an additional 3,054 shares during the last quarter. Institutional investors own 4.00% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on UI. StockNews.com raised Ubiquiti from a "hold" rating to a "buy" rating in a research report on Sunday, November 17th. Barclays boosted their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a report on Monday, November 11th. Finally, BWS Financial raised their price objective on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a "buy" rating in a report on Monday, November 11th.

Ubiquiti Stock Performance

NYSE UI traded up $3.36 on Friday, hitting $344.56. 94,604 shares of the stock traded hands, compared to its average volume of 89,920. The firm has a market capitalization of $20.84 billion, a price-to-earnings ratio of 53.34 and a beta of 1.12. The business's fifty day moving average is $287.85 and its two-hundred day moving average is $212.01. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $366.33.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti's dividend payout ratio (DPR) is currently 37.15%.

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.