Ubiquiti (NYSE:UI) Hits New 52-Week High After Dividend Announcement

Ubiquiti Inc. (NYSE:UI) shares hit a new 52-week high on Monday following a dividend announcement from the company. The stock traded as high as $321.02 and last traded at $321.02, with a volume of 7359 shares changing hands. The stock had previously closed at $312.91.

The newly announced dividend which will be paid on Monday, November 25th. Shareholders of record on Monday, November 18th will be given a dividend of $0.60 per share. The ex-dividend date is Monday, November 18th. This represents a $2.40 dividend on an annualized basis and a yield of 0.74%. Ubiquiti’s payout ratio is 37.15%.

Wall Street Analyst Weigh In

UI has been the topic of a number of analyst reports. StockNews.com cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd. Barclays reduced their price target on 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 lifted their price target on shares of Ubiquiti from $160.00 to $240.00 and gave the company a “buy” rating in a report on Monday, August 26th.

Ubiquiti Stock Performance

The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05. The stock has a market capitalization of $19.59 billion, a PE ratio of 48.44 and a beta of 1.13. The business’s 50 day moving average is $231.06 and its 200 day moving average is $180.81.

Ubiquiti (NYSE:UI) last released its quarterly earnings data on Friday, August 23rd. The company reported $1.74 EPS 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 firm had revenue of $507.50 million for the quarter, compared to analysts’ expectations of $538.23 million. The business’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Ubiquiti Inc. will post 7.09 earnings per share for the current fiscal year.

Institutional Trading of Ubiquiti

A number of institutional investors have recently bought and sold shares of the stock. Millennium Management LLC raised its position in 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 in the last quarter. SW Investment Management LLC boosted its holdings in Ubiquiti by 9.1% during the second 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 in the last quarter. Vanguard Group Inc. grew its position in Ubiquiti by 24.1% during the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company’s stock valued at $11,332,000 after buying an additional 18,986 shares during the period. AQR Capital Management LLC boosted its stake in shares of 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 acquiring an additional 11,076 shares in the last quarter. Finally, Maverick Capital Ltd. boosted its stake in shares of Ubiquiti by 76.3% during the 2nd quarter. Maverick Capital Ltd. now owns 19,093 shares of the company’s stock worth $2,781,000 after acquiring an additional 8,264 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

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.