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

Shares of Ubiquiti Inc. (NYSE:UI) reached a new 52-week high on Tuesday . The company traded as high as $231.44 and last traded at $231.44, with a volume of 34143 shares changing hands. The stock had previously closed at $223.83.

Analyst Ratings Changes

UI has been the topic of several research analyst reports. BWS Financial upped 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. Barclays decreased their target price on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a research note on Tuesday, August 27th. Finally, StockNews.com downgraded Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Stock Performance

The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.59 and a current ratio of 3.22. The stock has a market cap of $13.99 billion, a PE ratio of 38.88 and a beta of 1.16. The company’s 50-day moving average price is $195.15 and its two-hundred day moving average price is $156.46.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.91 by ($0.17). The firm had revenue of $507.50 million for 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 firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Tuesday, September 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ubiquiti’s payout ratio is presently 41.45%.

Hedge Funds Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd purchased a new stake in shares of Ubiquiti during the fourth quarter worth about $1,461,000. Vanguard Group Inc. grew its position in shares of Ubiquiti by 24.1% in 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 last quarter. Capstone Investment Advisors LLC increased its stake in shares of Ubiquiti by 188.1% during the first quarter. Capstone Investment Advisors LLC now owns 17,215 shares of the company’s stock valued at $1,994,000 after buying an additional 11,239 shares during the period. Catalytic Wealth RIA LLC bought a new position in shares of Ubiquiti during the first quarter valued at approximately $356,000. Finally, Covestor Ltd lifted its stake in Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after acquiring an additional 116 shares during the period. 4.00% of the stock is currently owned by institutional investors.

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.