M&T Bank Corp Buys Shares of 1,135 Ubiquiti Inc. (NYSE:UI)

M&T Bank Corp purchased a new position in shares of Ubiquiti Inc. (NYSE:UI) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,135 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new stake in Ubiquiti during the third quarter worth approximately $323,000. Algert Global LLC purchased a new position in shares of Ubiquiti during the 3rd quarter worth $838,000. Semanteon Capital Management LP acquired a new stake in shares of Ubiquiti during the third quarter worth $599,000. Zacks Investment Management purchased a new stake in shares of Ubiquiti in the third quarter valued at $8,892,000. Finally, Marshall Wace LLP grew its position in shares of Ubiquiti by 104.4% in the second quarter. Marshall Wace LLP now owns 5,980 shares of the company’s stock valued at $871,000 after purchasing an additional 3,054 shares during the period. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Ubiquiti Stock Performance

Shares of NYSE:UI opened at $335.23 on Friday. The business has a 50-day moving average of $307.76 and a two-hundred day moving average of $223.22. The firm has a market capitalization of $20.27 billion, a PE ratio of 51.89 and a beta of 1.12. 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 Inc. has a 12 month low of $104.24 and a 12 month high of $366.33.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.72%. Ubiquiti’s payout ratio is 37.15%.

Wall Street Analysts Forecast Growth

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

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.