Ubiquiti (NYSE:UI) Sets New 1-Year High - Here's What Happened

Ubiquiti Inc. (NYSE:UI - Get Free Report)'s share price reached a new 52-week high on Tuesday . The company traded as high as $385.00 and last traded at $380.34, with a volume of 12114 shares. The stock had previously closed at $362.43.

Wall Street Analysts Forecast Growth

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

Ubiquiti Trading Up 9.0 %

The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80. The company's 50 day simple moving average is $339.59 and its 200-day simple moving average is $248.60. The firm has a market cap of $23.90 billion, a P/E ratio of 61.17 and a beta of 1.14.

Ubiquiti Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Shareholders of record on Monday, November 18th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 annualized dividend and a yield of 0.61%. Ubiquiti's payout ratio is currently 37.15%.

Institutional Investors Weigh In On Ubiquiti

Several hedge funds have recently modified their holdings of the business. Huntington National Bank raised its holdings in Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company's stock worth $28,000 after purchasing an additional 91 shares in the last quarter. Raleigh Capital Management Inc. purchased a new position in Ubiquiti during the 3rd quarter worth $47,000. Hanseatic Management Services Inc. acquired a new position in Ubiquiti during the 3rd quarter valued at about $76,000. Harvest Fund Management Co. Ltd purchased a new stake in Ubiquiti in the third quarter valued at about $126,000. Finally, Atria Investments Inc acquired a new stake in Ubiquiti in the third quarter worth about $210,000. 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.