Ubiquiti (NYSE:UI) Reaches New 52-Week High – Here’s What Happened

Ubiquiti Inc. (NYSE:UI)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $366.73 and last traded at $353.67, with a volume of 14039 shares trading hands. The stock had previously closed at $357.25.

Wall Street Analyst Weigh In

Several equities analysts have commented on UI shares. Barclays lifted their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. BWS Financial boosted their price objective on Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a research report 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 Price Performance

The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The business’s fifty day moving average is $330.31 and its 200 day moving average is $241.03. The company has a market cap of $21.74 billion, a P/E ratio of 55.66 and a beta of 1.14.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid 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 dividend yield of 0.67%. Ubiquiti’s payout ratio is 37.15%.

Institutional Investors Weigh In On Ubiquiti

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in UI. CIBC Asset Management Inc bought a new position in Ubiquiti during the second quarter worth about $249,000. Marshall Wace LLP lifted its stake in shares of Ubiquiti by 104.4% during the 2nd quarter. Marshall Wace LLP now owns 5,980 shares of the company’s stock valued at $871,000 after buying an additional 3,054 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Ubiquiti by 88.8% in 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. Maverick Capital Ltd. grew its stake in Ubiquiti by 76.3% in the 2nd quarter. Maverick Capital Ltd. now owns 19,093 shares of the company’s stock valued at $2,781,000 after buying an additional 8,264 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Ubiquiti by 86.2% during the 2nd 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 period. 4.00% of the stock is currently owned by 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.