Ubiquiti (NYSE:UI) Stock Price Down 3.3%

Ubiquiti Inc. (NYSE:UI - Get Free Report) traded down 3.3% during trading on Friday . The company traded as low as $106.09 and last traded at $106.09. 28,293 shares traded hands during trading, a decline of 69% from the average session volume of 90,547 shares. The stock had previously closed at $109.68.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on UI shares. StockNews.com upgraded shares of Ubiquiti from a "sell" rating to a "hold" rating in a report on Friday, March 15th. Barclays lowered their price target on shares of Ubiquiti from $105.00 to $93.00 and set an "underweight" rating on the stock in a report on Monday, February 12th.

Ubiquiti Stock Performance

The firm's 50 day simple moving average is $119.28 and its 200 day simple moving average is $123.75. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 17.38 and a beta of 1.23.

Ubiquiti (NYSE:UI - Get Free Report) last posted its earnings results on Friday, February 9th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.57). The firm had revenue of $464.95 million for 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, sell-side analysts forecast that Ubiquiti Inc. will post 6.5 earnings per share for the current year.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Investors of record on Tuesday, February 20th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 2.25%. The ex-dividend date of this dividend was Friday, February 16th. Ubiquiti's payout ratio is presently 38.96%.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently added to or reduced their stakes in UI. SW Investment Management LLC boosted its position in shares of Ubiquiti by 17.3% during the 4th quarter. SW Investment Management LLC now owns 305,000 shares of the company's stock valued at $42,566,000 after acquiring an additional 45,000 shares during the last quarter. Norges Bank purchased a new stake in shares of Ubiquiti during the fourth quarter worth approximately $5,876,000. Voloridge Investment Management LLC increased its stake in shares of Ubiquiti by 68.9% during the fourth quarter. Voloridge Investment Management LLC now owns 89,459 shares of the company's stock worth $12,485,000 after buying an additional 36,481 shares during the period. Bridgewater Associates LP purchased a new stake in shares of Ubiquiti during the first quarter worth approximately $10,124,000. Finally, Jane Street Group LLC increased its stake in Ubiquiti by 115.8% in the second quarter. Jane Street Group LLC now owns 4,705 shares of the company's stock valued at $1,168,000 after purchasing an additional 34,535 shares during the last quarter. Hedge funds and other 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.