Harvest Fund Management Co. Ltd Acquires Shares of 570 Ubiquiti Inc. (NYSE:UI)

Harvest Fund Management Co. Ltd bought a new position in shares of Ubiquiti Inc. (NYSE:UI) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 570 shares of the company’s stock, valued at approximately $126,000.

Other hedge funds also recently made changes to their positions in the company. SW Investment Management LLC raised its stake in Ubiquiti by 9.1% in the second quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock valued at $43,698,000 after purchasing an additional 25,000 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Ubiquiti by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock valued at $20,349,000 after buying an additional 2,041 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Ubiquiti by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock worth $11,332,000 after acquiring an additional 18,986 shares during the period. Millennium Management LLC boosted its position in shares of Ubiquiti by 86.2% during the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock worth $8,499,000 after acquiring an additional 27,011 shares in the last quarter. Finally, Pacer Advisors Inc. bought a new position in Ubiquiti in the third quarter valued at approximately $7,030,000. 4.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Ubiquiti Price Performance

Shares of NYSE:UI opened at $352.16 on Thursday. The firm has a 50 day simple moving average of $269.72 and a 200 day simple moving average of $201.57. The company has a market cap of $21.30 billion, a price-to-earnings ratio of 54.51 and a beta of 1.13. Ubiquiti Inc. has a one year low of $104.24 and a one year high of $366.00. 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. Shareholders of record on Monday, November 18th were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti’s payout ratio is 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.