Ubiquiti (NYSE:UI) Hits New 1-Year High - Should You Buy?

Ubiquiti Inc. (NYSE:UI - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $277.27 and last traded at $277.27, with a volume of 18056 shares traded. The stock had previously closed at $270.41.

Analyst Ratings Changes

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

Ubiquiti Stock Performance

The company has a market cap of $16.07 billion, a P/E ratio of 47.70 and a beta of 1.13. 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 stock's 50-day moving average price is $223.34 and its 200 day moving average price is $175.03.

Ubiquiti (NYSE:UI - Get Free Report) last released its quarterly earnings results on Friday, August 23rd. The company reported $1.74 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, research analysts expect that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Tuesday, September 3rd were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ubiquiti's dividend payout ratio (DPR) is currently 41.45%.

Hedge Funds Weigh In On Ubiquiti

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SW Investment Management LLC boosted its stake in Ubiquiti by 9.1% during the second quarter. SW Investment Management LLC now owns 300,000 shares of the company's stock worth $43,698,000 after buying an additional 25,000 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Ubiquiti by 1.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company's stock worth $20,349,000 after purchasing an additional 2,041 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Ubiquiti by 24.1% in the 1st 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. Millennium Management LLC grew its holdings in shares of Ubiquiti by 86.2% in the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company's stock worth $8,499,000 after purchasing an additional 27,011 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Ubiquiti by 88.8% in the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company's stock worth $3,372,000 after purchasing an additional 11,076 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.