ClearAlpha Technologies LP Makes New $627,000 Investment in Ubiquiti Inc. (NYSE:UI)

ClearAlpha Technologies LP purchased a new stake in Ubiquiti Inc. (NYSE:UI) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,828 shares of the company’s stock, valued at approximately $627,000.

Other institutional investors also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new stake in Ubiquiti during the 3rd quarter worth $1,121,000. Verition Fund Management LLC acquired a new stake in shares of Ubiquiti in the third quarter valued at about $626,000. FMR LLC raised its holdings in shares of Ubiquiti by 200.8% during the 3rd quarter. FMR LLC now owns 2,764 shares of the company’s stock valued at $613,000 after buying an additional 1,845 shares during the period. The Manufacturers Life Insurance Company acquired a new position in Ubiquiti during the 3rd quarter worth approximately $244,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in Ubiquiti in the 3rd quarter worth approximately $126,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on UI shares. Barclays boosted their target price 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. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, BWS Financial raised their target price on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

Ubiquiti Stock Performance

Ubiquiti stock opened at $346.49 on Monday. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The stock has a 50 day moving average of $275.08 and a 200-day moving average of $205.01. The stock has a market cap of $20.95 billion, a P/E ratio of 53.64 and a beta of 1.13. Ubiquiti Inc. has a 52 week low of $104.24 and a 52 week high of $366.00.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Monday, November 18th. Ubiquiti’s payout ratio is currently 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.