Ubiquiti (NYSE:UI) Shares Gap Down to $161.94

Ubiquiti Inc. (NYSE:UI) shares gapped down before the market opened on Thursday . The stock had previously closed at $161.94, but opened at $157.75. Ubiquiti shares last traded at $157.75, with a volume of 1,076 shares.

Analysts Set New Price Targets

A number of research firms have recently issued reports on UI. Barclays reduced their price target on shares of Ubiquiti from $207.00 to $141.00 in a research report on Sunday, August 27th. StockNews.com cut Ubiquiti from a “hold” rating to a “sell” rating in a report on Monday, September 4th.

Ubiquiti Trading Up 2.5 %

The stock’s 50 day moving average is $172.72 and its 200 day moving average is $201.45. The stock has a market capitalization of $9.73 billion, a price-to-earnings ratio of 23.26 and a beta of 1.27.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 11th. Stockholders of record on Tuesday, September 5th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, September 1st. This represents a $2.40 annualized dividend and a dividend yield of 1.49%. Ubiquiti’s dividend payout ratio is presently 35.56%.

Hedge Funds Weigh In On Ubiquiti

Several hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. boosted its stake in shares of Ubiquiti by 23.1% during the 1st quarter. JPMorgan Chase & Co. now owns 12,068 shares of the company’s stock worth $3,514,000 after purchasing an additional 2,263 shares during the last quarter. HighTower Advisors LLC boosted its position in Ubiquiti by 14.6% during the first quarter. HighTower Advisors LLC now owns 2,189 shares of the company’s stock worth $638,000 after acquiring an additional 279 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Ubiquiti in the 1st quarter worth approximately $254,000. Citigroup Inc. raised its holdings in Ubiquiti by 2.4% in the 1st quarter. Citigroup Inc. now owns 2,723 shares of the company’s stock valued at $793,000 after acquiring an additional 64 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Ubiquiti by 14.5% during the 1st quarter. Bank of Montreal Can now owns 1,049 shares of the company’s stock worth $309,000 after purchasing an additional 133 shares during the period. Hedge funds and other institutional investors own 3.54% of the company’s stock.

Ubiquiti Company 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, and other WLAN products.