Ubiquiti (NYSE:UI) Shares Up 8%

Ubiquiti Inc. (NYSE:UI - Get Free Report)'s stock price shot up 8% during mid-day trading on Friday . The stock traded as high as $126.20 and last traded at $126.06. 33,333 shares traded hands during trading, a decline of 62% from the average session volume of 87,357 shares. The stock had previously closed at $116.69.

Analyst Upgrades and Downgrades

UI has been the topic of several research analyst reports. StockNews.com upgraded Ubiquiti from a "sell" rating to a "hold" rating in a research note on Thursday, April 18th. BWS Financial reiterated a "buy" rating and set a $160.00 price target on shares of Ubiquiti in a research report on Monday, April 8th. Finally, Barclays lowered their price target on Ubiquiti from $105.00 to $93.00 and set an "underweight" rating on the stock in a research report on Monday, February 12th.

Ubiquiti Price Performance

The stock has a 50 day simple moving average of $111.59 and a two-hundred day simple moving average of $119.79. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 20.39 and a beta of 1.22.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, February 9th. The company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.93 by ($0.57). The business had revenue of $464.95 million during the quarter, compared to analysts' expectations of $488.56 million. Ubiquiti had a net margin of 19.83% and a negative return on equity of 392.74%. As a group, research analysts forecast that Ubiquiti Inc. will post 6.5 EPS for the current year.

Hedge Funds Weigh In On Ubiquiti

Large investors have recently bought and sold shares of the business. SW Investment Management LLC grew its holdings in shares of Ubiquiti by 17.3% during the fourth quarter. SW Investment Management LLC now owns 305,000 shares of the company's stock worth $42,566,000 after purchasing an additional 45,000 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of 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 purchasing an additional 18,986 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Ubiquiti by 135.5% during the third quarter. Penserra Capital Management LLC now owns 43,083 shares of the company's stock worth $6,259,000 after purchasing an additional 24,787 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Ubiquiti by 17.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 36,177 shares of the company's stock worth $5,049,000 after purchasing an additional 5,267 shares during the period. Finally, Hussman Strategic Advisors Inc. lifted its holdings in shares of Ubiquiti by 68.4% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 31,500 shares of the company's stock worth $4,396,000 after purchasing an additional 12,800 shares during the period. 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.

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