Ubiquiti (NYSE:UI) Shares Down 4.1% - Here's What Happened

Ubiquiti Inc. (NYSE:UI - Get Free Report)'s stock price fell 4.1% on Tuesday . The company traded as low as $254.01 and last traded at $254.82. 16,149 shares changed hands during trading, a decline of 79% from the average session volume of 75,261 shares. The stock had previously closed at $265.80.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. BWS Financial raised their target price on shares of Ubiquiti from $160.00 to $240.00 and gave the company a "buy" rating in a report on Monday, August 26th. Barclays dropped their target price on Ubiquiti from $108.00 to $104.00 and set an "underweight" rating for the company in a report on Tuesday, August 27th. Finally, StockNews.com lowered shares of Ubiquiti from a "buy" rating to a "hold" rating in a research note on Tuesday, September 3rd.

Ubiquiti Price Performance

The firm has a 50-day simple moving average of $226.07 and a two-hundred day simple moving average of $177.25. The company has a market capitalization of $15.79 billion, a price-to-earnings ratio of 45.10 and a beta of 1.13. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05.

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

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Tuesday, September 3rd. Ubiquiti's payout ratio is 41.45%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. US Bancorp DE boosted its holdings in Ubiquiti by 3.9% in the 3rd quarter. US Bancorp DE now owns 1,537 shares of the company's stock valued at $341,000 after purchasing an additional 57 shares during the last quarter. Covestor Ltd grew its position in Ubiquiti by 29.0% in the first quarter. Covestor Ltd now owns 516 shares of the company's stock worth $60,000 after acquiring an additional 116 shares during the period. Willis Investment Counsel grew its position in Ubiquiti by 6.0% in the third quarter. Willis Investment Counsel now owns 3,250 shares of the company's stock worth $721,000 after acquiring an additional 185 shares during the period. Raleigh Capital Management Inc. acquired a new stake in Ubiquiti during the third quarter worth $47,000. Finally, nVerses Capital LLC purchased a new stake in Ubiquiti in the second quarter valued at $44,000. 4.00% of the stock is currently owned by institutional investors and hedge funds.

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.