JPMorgan Chase & Co. Grows Stake in Ubiquiti Inc. (NYSE:UI)

JPMorgan Chase & Co. boosted its holdings in shares of Ubiquiti Inc. (NYSE:UI) by 20.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,813 shares of the company’s stock after buying an additional 5,045 shares during the period. JPMorgan Chase & Co.’s holdings in Ubiquiti were worth $6,610,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of UI. Huntington National Bank boosted its holdings in Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after purchasing an additional 91 shares during the last quarter. Raleigh Capital Management Inc. purchased a new stake in shares of Ubiquiti in the third quarter worth about $47,000. Hanseatic Management Services Inc. acquired a new stake in Ubiquiti during the third quarter worth about $76,000. Harvest Fund Management Co. Ltd purchased a new position in Ubiquiti during the third quarter valued at approximately $126,000. Finally, Atria Investments Inc purchased a new position in Ubiquiti during the third quarter valued at approximately $210,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UI. Barclays raised their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, BWS Financial upped their price objective on shares of Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday.

Ubiquiti Stock Up 4.4 %

Shares of UI opened at $410.98 on Thursday. The firm has a market cap of $24.85 billion, a P/E ratio of 63.62 and a beta of 1.14. Ubiquiti Inc. has a 12 month low of $104.24 and a 12 month high of $415.00. The stock’s 50 day moving average is $342.27 and its two-hundred day moving average is $250.36. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a $0.60 dividend. The ex-dividend date was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.58%. Ubiquiti’s dividend payout ratio 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.