Ubiquiti (NYSE:UI) Reaches New 1-Year High – What’s Next?

Ubiquiti Inc. (NYSE:UI) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $357.92 and last traded at $356.99, with a volume of 10660 shares traded. The stock had previously closed at $345.72.

Analyst Ratings Changes

UI has been the subject of a number of analyst reports. Barclays increased their target price on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, BWS Financial boosted their target price 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.

Ubiquiti Stock Performance

The stock’s fifty day simple moving average is $260.68 and its 200-day simple moving average is $196.59. The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80. The company has a market capitalization of $21.68 billion, a PE ratio of 55.49 and a beta of 1.13.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Ubiquiti Inc. will post 7.09 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.67%. The ex-dividend date is Monday, November 18th. Ubiquiti’s dividend payout ratio (DPR) is 37.15%.

Hedge Funds Weigh In On Ubiquiti

Several hedge funds have recently added to or reduced their stakes in UI. US Bancorp DE grew its position in shares of Ubiquiti by 3.9% in the third quarter. US Bancorp DE now owns 1,537 shares of the company’s stock valued at $341,000 after purchasing an additional 57 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Ubiquiti by 3.4% in the 3rd quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock valued at $392,000 after buying an additional 58 shares in the last quarter. Huntington National Bank grew its holdings in Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after buying an additional 91 shares during the last quarter. Willis Investment Counsel raised its holdings in shares of Ubiquiti by 6.0% in the third quarter. Willis Investment Counsel now owns 3,250 shares of the company’s stock worth $721,000 after acquiring an additional 185 shares during the last quarter. Finally, Raleigh Capital Management Inc. acquired a new position in shares of Ubiquiti in the third quarter worth $47,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

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.