Ubiquiti (NYSE:UI) Shares Gap Up - Time to Buy?

Ubiquiti Inc. (NYSE:UI - Get Free Report)'s share price gapped up prior to trading on Friday . The stock had previously closed at $261.26, but opened at $283.47. Ubiquiti shares last traded at $310.03, with a volume of 23,664 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently weighed in on UI. StockNews.com downgraded shares of Ubiquiti from a "buy" rating to a "hold" rating in a report on Tuesday, September 3rd. Barclays cut their price target on shares of Ubiquiti from $108.00 to $104.00 and set an "underweight" rating on the stock in a report on Tuesday, August 27th. Finally, BWS Financial increased their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a "buy" rating in a report on Monday, August 26th.

Ubiquiti Stock Up 19.5 %

The business's 50 day moving average is $231.06 and its 200-day moving average is $179.79. The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.59 and a current ratio of 3.22. The stock has a market cap of $18.88 billion, a price-to-earnings ratio of 53.92 and a beta of 1.13.

Ubiquiti (NYSE:UI - Get Free Report) last announced 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). The firm had revenue of $507.50 million during the quarter, compared to analysts' expectations of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The business's quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts predict that Ubiquiti Inc. will post 7.09 EPS for the current fiscal year.

Ubiquiti Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $2.40 annualized dividend and a dividend yield of 0.77%. Ubiquiti's dividend payout ratio is presently 41.45%.

Institutional Trading of Ubiquiti

Institutional investors and hedge funds have recently bought and sold shares of the stock. Huntington National Bank raised its holdings in Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company's stock valued at $28,000 after buying an additional 91 shares during the period. Raleigh Capital Management Inc. acquired a new position in Ubiquiti in the 3rd quarter valued at about $47,000. nVerses Capital LLC acquired a new position in Ubiquiti in the 2nd quarter valued at about $44,000. Hanseatic Management Services Inc. acquired a new position in Ubiquiti in the 3rd quarter valued at about $76,000. Finally, Covestor Ltd grew its position 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 acquiring an additional 116 shares in the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

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.