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

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

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. BWS Financial boosted their price target on Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 15th. Finally, StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th.

Ubiquiti Stock Up 3.6 %

The firm’s 50 day moving average is $354.53 and its 200-day moving average is $260.69. The firm has a market cap of $26.10 billion, a PE ratio of 66.82 and a beta of 1.14. The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, November 8th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.75 by $0.37. The company 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, equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti’s dividend payout ratio is currently 37.15%.

Institutional Investors Weigh In On Ubiquiti

Hedge funds have recently modified their holdings of the stock. Zacks Investment Management acquired a new position in shares of Ubiquiti in the 3rd quarter valued at $8,892,000. Pacer Advisors Inc. purchased a new stake in Ubiquiti during the third quarter valued at about $7,030,000. Millennium Management LLC increased 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 acquiring an additional 27,011 shares during the last quarter. SW Investment Management LLC raised its holdings in shares of Ubiquiti by 9.1% in the 2nd 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 period. Finally, Barclays PLC lifted its stake in shares of Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company’s stock valued at $2,959,000 after purchasing an additional 13,079 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

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.