Ubiquiti (NYSE:UI) Reaches New 12-Month High - Time to Buy?

Key Points

• Ubiquiti's shares reached a new **52-week high** of $480.19, closing at $478.40 with a trading volume of 25,565 shares.
• Analysts have set new price targets, with BWS Financial reaffirming a "buy" rating at **$440.00**, while Barclays increased its target from **$222.00 to $247.00** but maintained an "underweight" rating.
• The company recently announced a quarterly dividend of **$0.60**, leading to an annualized dividend of **$2.40** with a yield of **0.5%** and a payout ratio of **26.43%**.

Ubiquiti Inc. (NYSE:UI - Get Free Report) reached a new 52-week high during trading on Friday . The stock traded as high as $480.19 and last traded at $478.40, with a volume of 25565 shares changing hands. The stock had previously closed at $460.52.

Analysts Set New Price Targets

UI has been the topic of several recent research reports. BWS Financial reaffirmed a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a report on Friday, July 11th. Barclays upped their price objective on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a report on Monday, May 12th.

Ubiquiti Price Performance

The firm has a market capitalization of $29.07 billion, a PE ratio of 53.16 and a beta of 1.35. The company's fifty day simple moving average is $419.70 and its 200 day simple moving average is $371.48.

Institutional Investors Weigh In On Ubiquiti

Institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC purchased a new stake in shares of Ubiquiti in the first quarter worth about $25,000. Brooklyn Investment Group raised its stake in Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Ubiquiti by 1,075.0% in the second quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company's stock valued at $39,000 after purchasing an additional 86 shares in the last quarter. Main Street Group LTD purchased a new stake in Ubiquiti in the second quarter valued at approximately $41,000. Finally, Versant Capital Management Inc raised its stake in Ubiquiti by 484.2% in 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 in the last quarter. 4.00% of the stock is 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.