Ubiquiti (NYSE:UI) Reaches New 52-Week High Following Dividend Announcement

Shares of Ubiquiti Inc. (NYSE:UI - Get Free Report) hit a new 52-week high on Friday following a dividend announcement from the company. The company traded as high as $444.00 and last traded at $470.40, with a volume of 2569 shares trading hands. The stock had previously closed at $426.80.

The newly announced dividend which will be paid on Monday, February 24th. Investors of record on Tuesday, February 18th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $2.40 annualized dividend and a yield of 0.69%. Ubiquiti's dividend payout ratio is currently 32.61%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on UI shares. BWS Financial reiterated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Monday. StockNews.com upgraded Ubiquiti from a "hold" rating to a "buy" rating in a research report on Sunday, November 17th. Finally, Barclays cut their price target on shares of Ubiquiti from $236.00 to $222.00 and set an "underweight" rating for the company in a report on Monday.

Ubiquiti Trading Down 5.6 %

The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The business has a 50 day moving average of $369.49 and a 200-day moving average of $283.43. The stock has a market cap of $20.95 billion, a PE ratio of 53.61 and a beta of 1.14.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, February 14th. The company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.12. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. On average, analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Huntington National Bank raised its holdings in shares of Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company's stock worth $28,000 after purchasing an additional 91 shares during the period. Farther Finance Advisors LLC grew its stake in shares of Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in shares of Ubiquiti in the 3rd quarter worth about $47,000. Finally, Blue Trust Inc. grew its position in Ubiquiti by 78.8% in the 4th quarter. Blue Trust Inc. now owns 143 shares of the company's stock worth $47,000 after purchasing an additional 63 shares during the last quarter. Hedge funds and other 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.