Ubiquiti (NYSE:UI) Reaches New 12-Month High – Here’s Why

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on UI. Barclays boosted their target price on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. BWS Financial boosted their target price on Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a research 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 Performance

The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32. The business has a 50-day simple moving average of $352.97 and a 200-day simple moving average of $259.60. The firm has a market capitalization of $25.26 billion, a PE ratio of 64.87 and a beta of 1.14.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, November 8th. The company reported $2.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.75 by $0.37. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. The business had revenue of $550.34 million for the quarter, compared to the consensus estimate of $535.03 million. Equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.57%. Ubiquiti’s dividend payout ratio is 37.15%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Huntington National Bank grew its stake in shares of Ubiquiti by 267.6% during the third 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. Raleigh Capital Management Inc. bought a new position in shares of Ubiquiti during the third quarter valued at approximately $47,000. Blue Trust Inc. grew its stake in shares of Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company’s stock valued at $47,000 after buying an additional 63 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Ubiquiti during the third quarter valued at approximately $76,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Ubiquiti during the third quarter valued at approximately $126,000. Institutional investors own 4.00% of the company’s stock.

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.