Ubiquiti (NYSE:UI) Reaches New 1-Year High - What's Next?

Ubiquiti Inc. (NYSE:UI - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $357.92 and last traded at $356.99, with a volume of 10660 shares traded. The stock had previously closed at $345.72.

Wall Street Analysts Forecast Growth

UI has been the subject of a number of research analyst reports. BWS Financial boosted their price target on Ubiquiti from $240.00 to $385.00 and gave the stock a "buy" rating in a report on Monday, November 11th. Barclays boosted their price target on Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a report on Monday, November 11th. Finally, StockNews.com raised Ubiquiti from a "hold" rating to a "buy" rating in a report on Sunday, November 17th.

Ubiquiti Trading Up 3.7 %

The business has a fifty day simple moving average of $260.68 and a 200-day simple moving average of $196.59. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The firm has a market cap of $21.68 billion, a price-to-earnings ratio of 55.49 and a beta of 1.13.

Ubiquiti (NYSE:UI - Get Free Report) last issued its earnings results 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). Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. The firm had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. The firm's revenue was up 3.3% on a year-over-year basis. As a group, equities analysts forecast that Ubiquiti Inc. will post 7.09 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, November 25th. Stockholders of record on Monday, November 18th will be paid a $0.60 dividend. The ex-dividend date is Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.67%. Ubiquiti's payout ratio is 37.15%.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank boosted its position in shares of Ubiquiti by 267.6% during the 3rd quarter. Huntington National Bank now owns 125 shares of the company's stock valued at $28,000 after purchasing an additional 91 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Ubiquiti during the 2nd quarter valued at about $44,000. Raleigh Capital Management Inc. bought a new stake in shares of Ubiquiti during the 3rd quarter valued at about $47,000. Covestor Ltd boosted its position in shares of Ubiquiti by 29.0% during the 1st quarter. Covestor Ltd now owns 516 shares of the company's stock valued at $60,000 after purchasing an additional 116 shares in the last quarter. Finally, Hanseatic Management Services Inc. bought a new stake in shares of Ubiquiti during the 3rd quarter valued at about $76,000. Institutional investors and hedge funds 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.