Ubiquiti (NYSE:UI) Reaches New 1-Year High - Time to Buy?

Ubiquiti Inc. (NYSE:UI - Get Free Report) hit a new 52-week high on Monday . The company traded as high as $259.75 and last traded at $259.75, with a volume of 1470 shares. The stock had previously closed at $255.92.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UI. Barclays decreased their target price on Ubiquiti from $108.00 to $104.00 and set an "underweight" rating for the company in a research report on Tuesday, August 27th. StockNews.com downgraded shares of Ubiquiti from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. Finally, BWS Financial lifted their price objective on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a "buy" rating in a research report on Monday, August 26th.

Ubiquiti Stock Performance

The company has a 50-day moving average of $215.15 and a 200 day moving average of $169.55. The firm has a market capitalization of $15.64 billion, a PE ratio of 44.90 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.

Ubiquiti (NYSE:UI - Get Free Report) last posted 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). The company had revenue of $507.50 million for the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The firm's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.60 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.93%. Ubiquiti's dividend payout ratio is currently 41.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Ubiquiti during the 2nd quarter valued at approximately $44,000. Raleigh Capital Management Inc. bought a new stake in Ubiquiti in the 3rd quarter worth about $47,000. Covestor Ltd raised its stake in Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company's stock valued at $60,000 after buying an additional 116 shares during the last quarter. EntryPoint Capital LLC increased its position in shares of Ubiquiti by 123.4% during the 1st quarter. EntryPoint Capital LLC now owns 735 shares of the company's stock valued at $85,000 after purchasing an additional 406 shares during the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in Ubiquiti in the third quarter worth approximately $222,000. Hedge funds and other 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.