Ubiquiti (NYSE:UI) Sets New 1-Year High After Dividend Announcement

Ubiquiti Inc. (NYSE:UI)’s share price reached a new 52-week high during trading on Monday following a dividend announcement from the company. The stock traded as high as $321.02 and last traded at $321.02, with a volume of 7359 shares traded. The stock had previously closed at $312.91.

The newly announced dividend which will be paid on Monday, November 25th. Investors of record on Monday, November 18th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, November 18th. Ubiquiti’s payout ratio is 37.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on UI shares. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a report on Monday. BWS Financial boosted their target price on Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a report on Monday. Finally, Barclays raised their price target on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a report on Monday.

Ubiquiti Stock Performance

The stock has a 50 day moving average of $234.00 and a 200 day moving average of $182.44. The company has a quick ratio of 1.59, a current ratio of 3.22 and a debt-to-equity ratio of 7.05. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 52.69 and a beta of 1.13.

Ubiquiti (NYSE:UI) last announced its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The firm had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts anticipate that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Hedge Funds Weigh In On Ubiquiti

A number of institutional investors have recently added to or reduced their stakes in UI. Algert Global LLC acquired a new stake in shares of Ubiquiti during the 3rd quarter valued at $838,000. Pacer Advisors Inc. bought a new position in Ubiquiti in the third quarter valued at about $7,030,000. Caprock Group LLC acquired a new stake in shares of Ubiquiti during the third quarter valued at about $235,000. Empowered Funds LLC bought a new stake in shares of Ubiquiti during the third quarter worth about $323,000. Finally, CIBC Asset Management Inc increased its stake in shares of Ubiquiti by 3.4% in the third quarter. CIBC Asset Management Inc now owns 1,768 shares of the company’s stock valued at $392,000 after buying an additional 58 shares during the period. 4.00% of the stock is currently owned by institutional investors and hedge funds.

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.