Ubiquiti Inc. (NYSE:UI) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its stake in Ubiquiti Inc. (NYSE:UI) by 7.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,174 shares of the company’s stock after buying an additional 79 shares during the period. M&T Bank Corp’s holdings in Ubiquiti were worth $364,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of UI. Golden State Wealth Management LLC acquired a new stake in shares of Ubiquiti in the first quarter worth approximately $25,000. Versant Capital Management Inc lifted its holdings in Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock valued at $34,000 after acquiring an additional 92 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company’s stock valued at $40,000 after buying an additional 39 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Ubiquiti by 30.2% in the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company’s stock worth $56,000 after purchasing an additional 39 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Ubiquiti in the fourth quarter worth approximately $74,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

Ubiquiti Price Performance

UI opened at $447.51 on Friday. The business has a 50 day simple moving average of $405.47 and a two-hundred day simple moving average of $362.82. Ubiquiti Inc. has a one year low of $156.94 and a one year high of $469.98. The firm has a market capitalization of $27.07 billion, a price-to-earnings ratio of 49.29 and a beta of 1.34.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a yield of 0.54%. Ubiquiti’s dividend payout ratio is currently 26.43%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on UI shares. BWS Financial reaffirmed a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a report on Friday, July 11th. Barclays upped their price objective on Ubiquiti from $222.00 to $247.00 and gave the company an “underweight” rating in a report on Monday, May 12th.

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.