Ubiquiti (NYSE:UI) Hits New 1-Year High - Here's Why

Ubiquiti Inc. (NYSE:UI - Get Free Report) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $676.25 and last traded at $657.58, with a volume of 196199 shares changing hands. The stock had previously closed at $650.10.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on UI shares. BWS Financial increased their price target on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday, August 25th. Barclays increased their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a report on Friday, August 22nd. Finally, UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $499.67.

Ubiquiti Trading Up 1.1%

The company has a market capitalization of $39.78 billion, a PE ratio of 55.87 and a beta of 1.42. The stock's 50-day moving average is $518.95 and its two-hundred day moving average is $419.38.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. Ubiquiti had a net margin of 27.66% and a return on equity of 166.22%. The company had revenue of $759.15 million for the quarter, compared to analyst estimates of $618.80 million. During the same period in the prior year, the company posted $1.74 EPS. On average, equities research analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Tuesday, September 2nd were given a dividend of $0.80 per share. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Ubiquiti's payout ratio is presently 27.19%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in UI. Wealth Enhancement Advisory Services LLC lifted its position in Ubiquiti by 46.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 1,753 shares of the company's stock valued at $582,000 after purchasing an additional 555 shares during the period. Versant Capital Management Inc lifted its position in Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after purchasing an additional 92 shares during the period. GAMMA Investing LLC lifted its position in Ubiquiti by 37,116.4% during the first quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock valued at $12,697,000 after purchasing an additional 40,828 shares during the period. Parallel Advisors LLC lifted its position in Ubiquiti by 6.0% during the first quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after purchasing an additional 41 shares during the period. Finally, Whipplewood Advisors LLC lifted its position in Ubiquiti by 66,500.0% during the first quarter. Whipplewood Advisors LLC now owns 666 shares of the company's stock valued at $207,000 after purchasing an additional 665 shares during the period. 4.00% of the stock is currently owned by institutional investors and hedge funds.

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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