Ubiquiti (NYSE:UI) Reaches New 12-Month High – What’s Next?

Ubiquiti Inc. (NYSE:UI)’s share price 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.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays upped their price target on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Finally, BWS Financial lifted their price target 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 Up 2.1 %

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 firm’s fifty day simple moving average is $257.55 and its 200 day simple moving average is $194.30. The stock has a market capitalization of $21.34 billion, a price-to-earnings ratio of 53.34 and a beta of 1.13.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data 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 company 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 532.06% and a net margin of 19.36%. Ubiquiti’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts forecast that Ubiquiti Inc. will post 7.09 earnings per share for the current year.

Ubiquiti Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, November 18th. Ubiquiti’s dividend payout ratio is 37.15%.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors have recently bought and sold shares of the company. Zacks Investment Management bought a new position in shares of Ubiquiti in the third quarter valued at $8,892,000. Pacer Advisors Inc. acquired a new stake in Ubiquiti in the third quarter valued at $7,030,000. Millennium Management LLC grew its position in shares of Ubiquiti by 86.2% in the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after acquiring an additional 27,011 shares during the period. SW Investment Management LLC increased its stake in shares of Ubiquiti by 9.1% during the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after purchasing an additional 25,000 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Ubiquiti by 24.1% during the first 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. 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.