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

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%**.

Shares of Ubiquiti Inc. (NYSE:UI - Get Free Report) reached a new 52-week high during trading on Friday . The company 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

A number of analysts have commented on the stock. BWS Financial reaffirmed a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a research note 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 research note on Monday, May 12th.

Ubiquiti Stock Up 2.2%

The company has a market capitalization of $28.47 billion, a PE ratio of 51.89 and a beta of 1.35. The business's 50 day simple moving average is $415.36 and its 200 day simple moving average is $370.86.

Ubiquiti Dividend Announcement

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

Institutional Trading of Ubiquiti

Hedge funds have recently made changes to their positions in the stock. Illinois Municipal Retirement Fund purchased a new stake in shares of Ubiquiti in the first quarter worth approximately $571,000. Raymond James Financial Inc. acquired a new position in Ubiquiti in the fourth quarter worth approximately $1,246,000. BNP Paribas Financial Markets acquired a new position in Ubiquiti in the fourth quarter worth approximately $484,000. Hussman Strategic Advisors Inc. acquired a new position in Ubiquiti in the first quarter worth approximately $3,908,000. Finally, Vanguard Group Inc. increased its holdings in Ubiquiti by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock worth $31,369,000 after buying an additional 2,294 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.