BWS Financial Reiterates "Buy" Rating for Ubiquiti (NYSE:UI)

Ubiquiti (NYSE:UI - Get Free Report)'s stock had its "buy" rating reiterated by equities researchers at BWS Financial in a research note issued on Friday,Benzinga reports. They presently have a $440.00 price target on the stock. BWS Financial's price target would suggest a potential upside of 9.19% from the stock's previous close.

Separately, Barclays increased their price objective on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a report on Monday, May 12th.

Ubiquiti Stock Performance

Shares of Ubiquiti stock traded up $3.36 during trading hours on Friday, reaching $402.98. The company's stock had a trading volume of 109,680 shares, compared to its average volume of 88,197. The company's 50 day simple moving average is $398.31 and its 200 day simple moving average is $360.31. Ubiquiti has a one year low of $153.49 and a one year high of $469.98. The stock has a market cap of $24.38 billion, a P/E ratio of 44.39 and a beta of 1.34.

Hedge Funds Weigh In On Ubiquiti

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC boosted its holdings in shares of Ubiquiti by 133.9% during the first quarter. AQR Capital Management LLC now owns 232,015 shares of the company's stock worth $70,521,000 after purchasing an additional 132,816 shares during the period. TD Asset Management Inc acquired a new stake in shares of Ubiquiti during the first quarter worth approximately $34,013,000. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Ubiquiti by 926.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after purchasing an additional 102,268 shares during the period. Epoch Investment Partners Inc. acquired a new stake in shares of Ubiquiti during the first quarter worth approximately $18,897,000. Finally, Norges Bank acquired a new stake in shares of Ubiquiti during the fourth quarter worth approximately $16,166,000. Institutional investors and hedge funds 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.

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