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

Ubiquiti Inc. (NYSE:UI - Get Free Report) hit a new 52-week high on Monday after the company announced a dividend. The stock traded as high as $321.02 and last traded at $321.02, with a volume of 7359 shares. 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 given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, November 18th. Ubiquiti's dividend payout ratio (DPR) is currently 37.15%.

Analyst Ratings Changes

Several research firms have recently weighed in on UI. Barclays raised their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a report on Monday. BWS Financial lifted their price objective on Ubiquiti from $240.00 to $385.00 and gave the company a "buy" rating in a research report on Monday. Finally, StockNews.com lowered Ubiquiti from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd.

Ubiquiti Trading Up 8.8 %

The business's 50 day simple moving average is $231.06 and its 200-day simple moving average is $180.81. The stock has a market capitalization of $20.58 billion, a P/E ratio of 52.69 and a beta of 1.13. The company has a debt-to-equity ratio of 7.05, a current ratio of 3.22 and a quick ratio of 1.59.

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

Hedge Funds Weigh In On Ubiquiti

Several hedge funds have recently modified their holdings of UI. Huntington National Bank raised its position in Ubiquiti by 267.6% during the third quarter. Huntington National Bank now owns 125 shares of the company's stock worth $28,000 after acquiring an additional 91 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Ubiquiti in the 2nd quarter valued at about $44,000. Raleigh Capital Management Inc. acquired a new stake in Ubiquiti in the 3rd quarter valued at about $47,000. Covestor Ltd lifted its stake in Ubiquiti by 29.0% in the 1st quarter. Covestor Ltd now owns 516 shares of the company's stock valued at $60,000 after purchasing an additional 116 shares during the last quarter. Finally, Hanseatic Management Services Inc. acquired a new position in Ubiquiti during the third quarter worth approximately $76,000. 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.