Ubiquiti (NYSE:UI) Price Target Lowered to $104.00 at Barclays

Ubiquiti (NYSE:UI) had its target price trimmed by Barclays from $108.00 to $104.00 in a research report released on Tuesday morning, Benzinga reports. The brokerage currently has an underweight rating on the stock.

UI has been the topic of a number of other research reports. BWS Financial increased their price target on Ubiquiti from $160.00 to $240.00 and gave the stock a buy rating in a research report on Monday, August 26th. StockNews.com raised Ubiquiti from a hold rating to a buy rating in a report on Tuesday.

Ubiquiti Trading Down 0.5 %

Shares of Ubiquiti stock opened at $193.52 on Tuesday. The company has a debt-to-equity ratio of 7.05, a quick ratio of 1.84 and a current ratio of 3.22. The firm has a 50-day moving average of $167.56 and a 200-day moving average of $138.96. Ubiquiti has a 52-week low of $103.00 and a 52-week high of $210.00. The stock has a market cap of $11.70 billion, a PE ratio of 33.42 and a beta of 1.18.

Ubiquiti (NYSE:UI) last issued its quarterly earnings data on Friday, August 23rd. The company reported $1.74 earnings per share for the quarter, missing the consensus estimate of $1.91 by ($0.17). Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. The business had revenue of $507.50 million during the quarter, compared to analyst estimates of $538.23 million. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, sell-side analysts forecast that Ubiquiti will post 6.36 EPS for the current year.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.40 annualized dividend and a dividend yield of 1.24%. Ubiquiti’s dividend payout ratio is 41.45%.

Institutional Investors Weigh In On Ubiquiti

A number of large investors have recently modified their holdings of UI. SW Investment Management LLC lifted its stake in shares of Ubiquiti by 9.1% in the 2nd quarter. SW Investment Management LLC now owns 300,000 shares of the company’s stock valued at $43,698,000 after acquiring an additional 25,000 shares during the last quarter. Creative Planning raised its stake in shares of Ubiquiti by 28.4% during the second quarter. Creative Planning now owns 2,643 shares of the company’s stock valued at $385,000 after acquiring an additional 585 shares during the last quarter. Millennium Management LLC raised its stake in shares of Ubiquiti by 86.2% during the second quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after acquiring an additional 27,011 shares during the last quarter. Maverick Capital Ltd. lifted its holdings in shares of Ubiquiti by 76.3% during the second quarter. Maverick Capital Ltd. now owns 19,093 shares of the company’s stock worth $2,781,000 after purchasing an additional 8,264 shares during the period. Finally, AQR Capital Management LLC grew its stake in shares of Ubiquiti by 88.8% in the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after purchasing an additional 11,076 shares during the last quarter. Institutional investors and hedge funds own 4.00% of the company’s stock.

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.