Ubiquiti Inc. (NYSE:UI) Sees Large Increase in Short Interest

Key Points

• Ubiquiti Inc. experienced a remarkable 99.7% increase in short interest in July, with a total of 500,400 shares short sold as of July 15th, indicating 11.9% of the company's shares are currently short sold.
• The company recently declared a $0.60 quarterly dividend, representing an annualized yield of 0.5% and a payout ratio of 26.43%.
• Research analysts maintain a mix of ratings on Ubiquiti, with one firm issuing a "buy" rating and a target price of $440.00, while another downgraded its price target to $247.00.

Ubiquiti Inc. (NYSE:UI - Get Free Report) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 500,400 shares, agrowthof99.7% from the June 30th total of 250,600 shares. Currently,11.9% of the shares of the company are short sold. Based on an average daily volume of 106,800 shares, the short-interest ratio is presently 4.7 days. Based on an average daily volume of 106,800 shares, the short-interest ratio is presently 4.7 days. Currently,11.9% of the shares of the company are short sold.

Ubiquiti Trading Up 0.1%

Shares of NYSE UI traded up $0.40 during trading hours on Tuesday, reaching $438.27. The stock had a trading volume of 23,901 shares, compared to its average volume of 103,662. The firm has a market cap of $26.51 billion, a price-to-earnings ratio of 48.32 and a beta of 1.35. The business's fifty day moving average price is $412.46 and its two-hundred day moving average price is $369.41. Ubiquiti has a 52-week low of $164.60 and a 52-week high of $473.72.

Ubiquiti Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were paid a $0.60 dividend. The ex-dividend date was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a yield of 0.5%. Ubiquiti's dividend payout ratio (DPR) is 26.43%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. BWS Financial reiterated a "buy" rating and issued a $440.00 target price on shares of Ubiquiti in a research report on Friday, July 11th. Barclays boosted their price objective on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th.

Institutional Investors Weigh In On Ubiquiti

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. grew its position in Ubiquiti by 198.3% during the 4th quarter. American Century Companies Inc. now owns 3,237 shares of the company's stock worth $1,074,000 after purchasing an additional 2,152 shares during the period. LPL Financial LLC grew its position in shares of Ubiquiti by 4.1% during the 4th quarter. LPL Financial LLC now owns 5,297 shares of the company's stock valued at $1,758,000 after acquiring an additional 210 shares during the period. Vanguard Group Inc. lifted its stake in Ubiquiti by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock valued at $31,369,000 after buying an additional 2,294 shares in the last quarter. Norges Bank purchased a new position in Ubiquiti in the 4th quarter valued at about $16,166,000. Finally, Franklin Resources Inc. purchased a new position in Ubiquiti in the 4th quarter valued at about $4,716,000. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

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.

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