Ubiquiti (NYSE:UI) Price Target Raised to $236.00

Ubiquiti (NYSE:UI) had its price objective increased by Barclays from $104.00 to $236.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other brokerages have also weighed in on UI. BWS Financial lifted their price objective on Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com lowered Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd.

Ubiquiti Stock Down 3.4 %

UI opened at $337.45 on Monday. The business has a 50 day moving average price of $237.09 and a two-hundred day moving average price of $184.15. Ubiquiti has a 52 week low of $104.24 and a 52 week high of $355.31. The company has a market cap of $20.41 billion, a PE ratio of 52.63 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 2.54 and a debt-to-equity ratio of 2.80.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The firm had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. Ubiquiti had a net margin of 19.36% and a return on equity of 532.06%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, research analysts anticipate that Ubiquiti will post 7.09 EPS for the current year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.71%. Ubiquiti’s payout ratio is currently 37.15%.

Institutional Investors Weigh In On Ubiquiti

Institutional investors have recently modified their holdings of the company. Pacer Advisors Inc. purchased a new position in Ubiquiti in the 3rd quarter valued at approximately $7,030,000. Millennium Management LLC grew its holdings in Ubiquiti by 86.2% in the second quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after purchasing an additional 27,011 shares during the last quarter. SW Investment Management LLC grew its holdings in Ubiquiti by 9.1% in the second quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock valued at $43,698,000 after purchasing an additional 25,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock valued at $11,332,000 after buying an additional 18,986 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Ubiquiti by 88.8% during the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after buying an additional 11,076 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company’s stock.

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.