Ubiquiti (NYSE:UI) Sets New 52-Week High – What’s Next?

Ubiquiti Inc. (NYSE:UIGet Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $231.44 and last traded at $231.44, with a volume of 34143 shares traded. The stock had previously closed at $223.83.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on UI. StockNews.com cut Ubiquiti from a “buy” rating to a “hold” rating in a research note on Tuesday, September 3rd. BWS Financial lifted their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Finally, Barclays decreased their price target on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating for the company in a research note on Tuesday, August 27th.

Get Our Latest Stock Analysis on UI

Ubiquiti Stock Performance

The stock has a market capitalization of $14.10 billion, a P/E ratio of 41.10 and a beta of 1.16. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. The company has a 50-day moving average price of $197.29 and a two-hundred day moving average price of $157.86.

Ubiquiti (NYSE:UIGet Free Report) last issued its earnings results on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The business had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Ubiquiti Inc. will post 7.09 earnings per share for the current year.

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were paid a $0.60 dividend. The ex-dividend date was Tuesday, September 3rd. This represents a $2.40 annualized dividend and a dividend yield of 1.03%. Ubiquiti’s dividend payout ratio is presently 41.45%.

Hedge Funds Weigh In On Ubiquiti

A number of large investors have recently modified their holdings of UI. nVerses Capital LLC purchased a new position in shares of Ubiquiti in the second quarter valued at $44,000. Fairman Group LLC bought a new stake in shares of Ubiquiti during the fourth quarter valued at about $52,000. Covestor Ltd boosted its position in shares of Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after acquiring an additional 116 shares during the period. EntryPoint Capital LLC grew its stake in Ubiquiti by 123.4% during the first quarter. EntryPoint Capital LLC now owns 735 shares of the company’s stock valued at $85,000 after acquiring an additional 406 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new stake in Ubiquiti during the 3rd quarter worth approximately $222,000. 4.00% of the stock is currently owned by institutional investors.

About Ubiquiti

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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.

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