Ubiquiti (NYSE:UI) Hits New 1-Year High – Here’s Why

Ubiquiti Inc. (NYSE:UI)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $366.34 and last traded at $362.88, with a volume of 15504 shares changing hands. The stock had previously closed at $357.42.

Wall Street Analyst Weigh In

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

Ubiquiti Stock Up 0.6 %

The company has a market capitalization of $20.63 billion, a P/E ratio of 52.82 and a beta of 1.12. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The firm’s fifty day moving average is $285.36 and its 200-day moving average is $209.81.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date was Monday, November 18th. Ubiquiti’s payout ratio is 37.15%.

Institutional Investors Weigh In On Ubiquiti

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Ubiquiti during the third quarter valued at about $323,000. Algert Global LLC bought a new position in Ubiquiti in the 3rd quarter valued at approximately $838,000. Vanguard Group Inc. boosted its position in 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 buying an additional 18,986 shares during the period. Semanteon Capital Management LP bought a new stake in Ubiquiti during the 3rd quarter worth approximately $599,000. Finally, Marshall Wace LLP increased its position in Ubiquiti by 104.4% in the 2nd quarter. Marshall Wace LLP now owns 5,980 shares of the company’s stock valued at $871,000 after acquiring an additional 3,054 shares during the period. Institutional investors own 4.00% 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, door access systems, and other WLAN products.