Ubiquiti (NYSE:UI) Hits New 12-Month High – What’s Next?

Ubiquiti Inc. (NYSE:UI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $429.74 and last traded at $419.96, with a volume of 11798 shares trading hands. The stock had previously closed at $415.35.

Analyst Upgrades and Downgrades

UI has been the subject of a number of research reports. 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. BWS Financial increased their target price on Ubiquiti from $385.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. Finally, StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th.

Ubiquiti Price Performance

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 market cap of $26.10 billion, a PE ratio of 66.82 and a beta of 1.14. The company’s 50 day moving average is $354.53 and its 200-day moving average is $260.69.

Ubiquiti (NYSE:UI) last announced its earnings results on Friday, November 8th. The company reported $2.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.75 by $0.37. The business had revenue of $550.34 million for the quarter, compared to analyst estimates of $535.03 million. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. As a group, sell-side analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Dividend Announcement

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 0.56%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti’s payout ratio is currently 37.15%.

Hedge Funds Weigh In On Ubiquiti

Large investors have recently modified their holdings of the stock. Zacks Investment Management acquired a new stake in Ubiquiti during the third quarter valued at approximately $8,892,000. Pacer Advisors Inc. acquired a new stake in shares of Ubiquiti during the 3rd quarter valued at approximately $7,030,000. Millennium Management LLC lifted its stake in Ubiquiti by 86.2% during the second quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock worth $8,499,000 after purchasing an additional 27,011 shares during the last quarter. SW Investment Management LLC lifted its stake in Ubiquiti by 9.1% during the second quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Barclays PLC boosted its holdings in Ubiquiti by 4,880.2% in the third quarter. Barclays PLC now owns 13,347 shares of the company’s stock worth $2,959,000 after purchasing an additional 13,079 shares during the period. Institutional investors own 4.00% of the company’s stock.

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.