Ubiquiti (NYSE:UI) Hits New 1-Year High Following Dividend Announcement

Ubiquiti Inc. (NYSE:UI)’s share price reached a new 52-week high during mid-day trading on Monday after the company announced a dividend. The company 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. Investors of record on Monday, November 18th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date of this dividend is Monday, November 18th. Ubiquiti’s payout ratio is currently 37.15%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research note on Monday. Barclays increased their price target on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, BWS Financial increased their price target on shares of Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a research note on Monday.

Ubiquiti Stock Up 8.8 %

The stock’s 50 day simple moving average is $231.06 and its two-hundred day simple moving average is $180.81. The firm has a market cap of $20.58 billion, a P/E ratio of 52.69 and a beta of 1.13. The company has a debt-to-equity ratio of 7.05, a current ratio of 3.22 and a quick ratio of 1.59.

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). Ubiquiti had a net margin of 18.15% and a return on equity of 3,321.33%. The business had revenue of $507.50 million for the quarter, compared to the consensus estimate of $538.23 million. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts forecast that Ubiquiti Inc. will post 7.09 earnings per share for the current year.

Institutional Investors Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently made changes to their positions in UI. Motley Fool Asset Management LLC bought a new stake in shares of Ubiquiti during the first quarter valued at approximately $436,000. Edmond DE Rothschild Holding S.A. increased its position in shares of Ubiquiti by 20.4% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 2,360 shares of the company’s stock valued at $273,000 after acquiring an additional 400 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 18,986 shares in the last quarter. Catalytic Wealth RIA LLC bought a new stake in shares of Ubiquiti during the first quarter valued at approximately $356,000. Finally, Covestor Ltd increased its position in shares of Ubiquiti by 29.0% during the first quarter. Covestor Ltd now owns 516 shares of the company’s stock valued at $60,000 after acquiring an additional 116 shares in the last quarter. Institutional investors 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.