Ubiquiti (NYSE:UI) Reaches New 12-Month High After Dividend Announcement

Shares of Ubiquiti Inc. (NYSE:UI) hit a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The company traded as high as $444.00 and last traded at $470.40, with a volume of 2569 shares trading hands. The stock had previously closed at $426.80.

The newly announced dividend which will be paid on Monday, February 24th. Stockholders of record on Tuesday, February 18th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.61%. Ubiquiti’s payout ratio is 37.15%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays increased their target price on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a report on Monday, November 11th. BWS Financial upped their target price on shares of 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 shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th.

Ubiquiti Price Performance

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 stock has a market cap of $23.74 billion, a PE ratio of 60.77 and a beta of 1.14. The stock’s 50-day moving average is $368.27 and its two-hundred day moving average is $278.93.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. On average, equities analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Institutional Trading of Ubiquiti

A number of large investors have recently modified their holdings of the stock. Pacer Advisors Inc. increased its position in shares of Ubiquiti by 95.0% in the 4th quarter. Pacer Advisors Inc. now owns 61,825 shares of the company’s stock valued at $20,522,000 after purchasing an additional 30,118 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Ubiquiti in the 4th quarter valued at approximately $15,425,000. Zacks Investment Management purchased a new stake in Ubiquiti during the 3rd quarter worth about $8,892,000. JPMorgan Chase & Co. lifted its holdings in Ubiquiti by 20.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock worth $6,610,000 after buying an additional 5,045 shares during the last quarter. Finally, Wealthfront Advisers LLC purchased a new stake in Ubiquiti during the 4th quarter worth about $9,274,000. Hedge funds and other 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.