Ubiquiti (NYSE:UI) Hits New 1-Year High - What's Next?

Key Points

• Ubiquiti's stock price reached a new 52-week high at $626.35, with a recent trading price of $624.34 and a trading volume of 25,635 shares.
• Analysts have set new price targets for Ubiquiti, with BWS Financial and UBS Group increasing their targets to **$600.00**, while Barclays raised theirs to **$299.00**.
• The company reported better-than-expected quarterly earnings with **$3.54** earnings per share, significantly surpassing the consensus estimate of **$2.23**.

Ubiquiti Inc. (NYSE:UI - Get Free Report)'s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $626.35 and last traded at $624.34, with a volume of 25635 shares traded. The stock had previously closed at $607.54.

Analysts Set New Price Targets

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

Ubiquiti Price Performance

The firm's 50-day moving average is $493.16 and its 200-day moving average is $405.13. The company has a market capitalization of $38.82 billion, a P/E ratio of 54.52 and a beta of 1.42.

Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results 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 firm had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. During the same quarter in the prior year, the business earned $1.74 earnings per share. As a group, analysts forecast that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were issued a $0.80 dividend. This is a boost from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 0.5%. Ubiquiti's dividend payout ratio (DPR) is 27.19%.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors have recently made changes to their positions in UI. Golden State Wealth Management LLC purchased a new position in Ubiquiti in the 1st quarter worth about $25,000. Brooklyn Investment Group increased its stake in Ubiquiti by 78.8% in the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after buying an additional 41 shares during the period. Cullen Frost Bankers Inc. increased its stake in Ubiquiti by 1,075.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company's stock worth $39,000 after buying an additional 86 shares during the period. Main Street Group LTD purchased a new position in Ubiquiti in the 2nd quarter worth about $41,000. Finally, Versant Capital Management Inc increased its stake in Ubiquiti by 484.2% in the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after buying an additional 92 shares during the period. 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.