Ubiquiti (NYSE:UI) Shares Gap Up – What’s Next?

Ubiquiti Inc. (NYSE:UI)’s stock price gapped up before the market opened 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.

Analyst Ratings Changes

UI has been the topic of a number of analyst reports. StockNews.com lowered shares of Ubiquiti from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. Barclays lowered their price objective on shares of Ubiquiti from $108.00 to $104.00 and set an “underweight” rating for the company in a research report on Tuesday, August 27th. Finally, 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.

Ubiquiti Stock Performance

The stock has a 50 day moving average of $227.34 and a 200 day moving average of $177.77. The company has a market capitalization of $18.90 billion, a price-to-earnings ratio of 51.29 and a beta of 1.13. The company has a quick ratio of 1.59, a current ratio of 3.22 and a debt-to-equity ratio of 7.05.

Ubiquiti (NYSE:UI) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $538.23 million. Ubiquiti had a return on equity of 3,321.33% and a net margin of 18.15%. Ubiquiti’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Ubiquiti Inc. will post 7.09 EPS for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 9th. Investors of record on Tuesday, September 3rd were paid 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 yield of 0.77%. Ubiquiti’s dividend payout ratio is currently 41.45%.

Institutional Investors Weigh In On Ubiquiti

Several hedge funds and other institutional investors have recently bought and sold shares of UI. Millennium Management LLC increased its position in Ubiquiti by 86.2% in the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after buying an additional 27,011 shares in the last quarter. SW Investment Management LLC grew its position in 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 purchasing an additional 25,000 shares during the period. Vanguard Group Inc. increased its stake in Ubiquiti by 24.1% during the 1st quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock valued at $11,332,000 after purchasing an additional 18,986 shares in the last quarter. AQR Capital Management LLC raised its holdings in Ubiquiti by 88.8% during the second 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 last quarter. Finally, Maverick Capital Ltd. grew 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 valued at $2,781,000 after buying an additional 8,264 shares during the last quarter. 4.00% of the stock is owned by institutional investors.

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.