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

Ubiquiti Inc. (NYSE:UI) reached a new 52-week high during mid-day trading on Monday following a dividend announcement from the company. The company traded as high as $321.02 and last traded at $321.02, with a volume of 7359 shares trading 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 issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Monday, November 18th. Ubiquiti’s dividend payout ratio is presently 37.15%.

Analyst Upgrades and Downgrades

UI has been the subject of a number of research analyst reports. Barclays lowered their price target on Ubiquiti from $108.00 to $104.00 and set an “underweight” rating for the company in a report on Tuesday, August 27th. BWS Financial increased their target price on shares of Ubiquiti from $160.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, StockNews.com cut shares of Ubiquiti from a “buy” rating to a “hold” rating in a research report on Tuesday, September 3rd.

Ubiquiti Price Performance

The firm has a market capitalization of $19.59 billion, a price-to-earnings ratio of 48.44 and a beta of 1.13. The stock’s fifty day moving average price is $231.06 and its two-hundred day moving average price is $180.81. The company has a current ratio of 3.22, a quick ratio of 1.59 and a debt-to-equity ratio of 7.05.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results 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 net margin of 18.15% and a return on equity of 3,321.33%. The company had revenue of $507.50 million during the quarter, compared to analysts’ expectations of $538.23 million. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Ubiquiti Inc. will post 7.09 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Motley Fool Asset Management LLC acquired a new stake in shares of Ubiquiti in the first quarter valued at about $436,000. Edmond DE Rothschild Holding S.A. lifted its position in shares of Ubiquiti by 20.4% during the 1st 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 during the period. Vanguard Group Inc. lifted its position in shares of 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 acquiring an additional 18,986 shares during the period. Catalytic Wealth RIA LLC purchased a new stake in shares of Ubiquiti during the 1st quarter worth approximately $356,000. Finally, Covestor Ltd grew its holdings in shares of Ubiquiti by 29.0% in the 1st quarter. Covestor Ltd now owns 516 shares of the company’s stock worth $60,000 after acquiring an additional 116 shares during the period. 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.