Ubiquiti (NYSE:UI) Reaches New 12-Month High Following Dividend Announcement

Shares of Ubiquiti Inc. (NYSE:UI) reached a new 52-week high during trading on Friday after the company announced a dividend. The stock traded as high as $444.00 and last traded at $470.40, with a volume of 2569 shares changing hands. The stock had previously closed at $426.80.

The newly announced dividend which will be paid on Monday, February 24th. Shareholders of record on Tuesday, February 18th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 0.61%. Ubiquiti’s dividend payout ratio is currently 37.15%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on UI. Barclays boosted their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. Finally, BWS Financial increased their price objective on Ubiquiti from $385.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 15th.

Ubiquiti Trading Down 8.0 %

The business’s 50 day simple moving average is $368.27 and its 200 day simple moving average is $278.93. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32. The company has a market capitalization of $23.74 billion, a price-to-earnings ratio of 60.77 and a beta of 1.14.

Ubiquiti (NYSE:UI) last issued its quarterly earnings results on Friday, February 14th. The company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.12. Ubiquiti had a return on equity of 532.06% and a net margin of 19.36%. Research analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current year.

Institutional Trading of Ubiquiti

A number of hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank lifted its position in Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company’s stock valued at $28,000 after purchasing an additional 91 shares during the period. Venturi Wealth Management LLC lifted its position in Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company’s stock valued at $43,000 after purchasing an additional 54 shares during the period. Raleigh Capital Management Inc. acquired a new position in Ubiquiti during the third quarter worth $47,000. Blue Trust Inc. grew its holdings in Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company’s stock worth $47,000 after acquiring an additional 63 shares during the period. Finally, Financial Perspectives Inc grew its holdings in Ubiquiti by 152.2% during the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company’s stock worth $56,000 after acquiring an additional 102 shares during the period. 4.00% of the stock is owned by institutional investors and hedge funds.

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.