Ubiquiti (NYSE:UI) Hits New 12-Month High at $212.71

Ubiquiti Inc. (NYSE:UI) shares hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $212.71 and last traded at $211.71, with a volume of 23416 shares. The stock had previously closed at $207.16.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on UI. BWS Financial upped their target price on Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th. StockNews.com cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Finally, Barclays dropped their target price on shares of Ubiquiti from $108.00 to $104.00 and set an “underweight” rating on the stock in a report on Tuesday, August 27th.

Ubiquiti Stock Performance

The stock has a market capitalization of $12.55 billion, a price-to-earnings ratio of 36.30 and a beta of 1.16. 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 company has a 50 day simple moving average of $180.55 and a 200-day simple moving average of $145.91.

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

Ubiquiti Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Tuesday, September 3rd were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date was Tuesday, September 3rd. Ubiquiti’s payout ratio is 41.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Capstone Investment Advisors LLC acquired a new position in shares of Ubiquiti during the fourth quarter valued at about $834,000. Charles Schwab Investment Management Inc. lifted its position in Ubiquiti by 17.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 36,177 shares of the company’s stock valued at $5,049,000 after acquiring an additional 5,267 shares in the last quarter. Parallel Advisors LLC boosted its stake in Ubiquiti by 116.5% during the 4th quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after purchasing an additional 120 shares during the last quarter. Quadrature Capital Ltd bought a new stake in Ubiquiti during the 4th quarter worth approximately $1,461,000. Finally, Vanguard Group Inc. raised its stake in shares of Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock worth $11,332,000 after purchasing an additional 18,986 shares during the last quarter. 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.