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

Ubiquiti Inc. (NYSE:UI)’s share price reached a new 52-week high on Tuesday . The stock traded as high as $385.00 and last traded at $380.34, with a volume of 12114 shares changing hands. The stock had previously closed at $362.43.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Barclays lifted their price target on Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Finally, BWS Financial upped their price objective on Ubiquiti from $385.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday.

Ubiquiti Stock Performance

The firm has a market cap of $24.85 billion, a P/E ratio of 63.62 and a beta of 1.14. The stock’s 50-day moving average price is $342.27 and its 200 day moving average price is $250.36. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were given 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 yield of 0.58%. Ubiquiti’s dividend payout ratio (DPR) is presently 37.15%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in UI. Huntington National Bank boosted its holdings in shares of Ubiquiti by 267.6% in the 3rd quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after buying an additional 91 shares during the last quarter. Raleigh Capital Management Inc. acquired a new stake in Ubiquiti in the third quarter valued at $47,000. Hanseatic Management Services Inc. bought a new position in shares of Ubiquiti in the 3rd quarter valued at about $76,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Ubiquiti during the 3rd quarter worth about $126,000. Finally, Atria Investments Inc bought a new stake in shares of Ubiquiti in the 3rd quarter valued at about $210,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

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.