State Street Corp Has $16 Million Holdings in Ubiquiti Inc. (NYSE:UI)

State Street Corp trimmed its position in shares of Ubiquiti Inc. (NYSE:UI) by 2.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,144 shares of the company’s stock after selling 2,015 shares during the quarter. State Street Corp owned approximately 0.12% of Ubiquiti worth $15,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Huntington National Bank lifted its stake 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 acquiring an additional 91 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in shares of Ubiquiti during the 3rd quarter valued at $47,000. nVerses Capital LLC acquired a new stake in shares of Ubiquiti in the 2nd quarter valued at $44,000. Hanseatic Management Services Inc. bought a new stake in Ubiquiti in the third quarter worth $76,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Ubiquiti during the third quarter worth $126,000. Institutional investors own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on UI. Barclays boosted their price target on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Finally, BWS Financial increased their price target on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th.

Ubiquiti Stock Up 1.7 %

UI stock opened at $350.66 on Wednesday. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of 54.28 and a beta of 1.12. The company has a 50-day moving average of $311.98 and a two-hundred day moving average of $227.05. Ubiquiti Inc. has a 52-week low of $104.24 and a 52-week high of $366.33. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.68%. Ubiquiti’s payout ratio is 37.15%.

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.