Ubiquiti (NYSE:UI) Sets New 1-Year High – Should You Buy?

Ubiquiti Inc. (NYSE:UI)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $239.00 and last traded at $239.00, with a volume of 7677 shares traded. The stock had previously closed at $235.70.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. BWS Financial boosted their price target on Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, August 26th. Barclays lowered their price target 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 Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Price Performance

The business has a 50-day simple moving average of $199.68 and a 200 day simple moving average of $159.87. The stock has a market cap of $14.60 billion, a P/E ratio of 40.71 and a beta of 1.16. 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) last released its quarterly earnings results on Friday, August 23rd. The company reported $1.74 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.17). The company had revenue of $507.50 million during the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The company’s revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that Ubiquiti Inc. will post 7.09 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 9th. Stockholders of record on Tuesday, September 3rd were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Tuesday, September 3rd. Ubiquiti’s dividend payout ratio is 41.45%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. SW Investment Management LLC raised its stake in Ubiquiti by 9.1% during the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock worth $43,698,000 after buying an additional 25,000 shares during the period. Bank of New York Mellon Corp raised its stake in Ubiquiti by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company’s stock worth $20,349,000 after buying an additional 2,041 shares during the period. Vanguard Group Inc. raised its stake in Ubiquiti by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock worth $11,332,000 after buying an additional 18,986 shares during the period. Millennium Management LLC raised its stake in Ubiquiti by 86.2% during the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock worth $8,499,000 after buying an additional 27,011 shares during the period. Finally, AQR Capital Management LLC raised its stake in Ubiquiti by 88.8% during the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after buying an additional 11,076 shares during the period. 4.00% of the stock is 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.