Ubiquiti (NYSE:UI) Hits New 12-Month High – Time to Buy?

Ubiquiti Inc. (NYSE:UI) hit a new 52-week high on Tuesday . The company traded as high as $366.73 and last traded at $353.67, with a volume of 14039 shares changing hands. The stock had previously closed at $357.25.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UI. BWS Financial increased their price objective on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a research note on Monday, November 11th. StockNews.com upgraded Ubiquiti from a “hold” rating to a “buy” rating in a report on Sunday, November 17th. Finally, Barclays increased their price objective on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a report on Monday, November 11th.

Ubiquiti Stock Performance

The business’s fifty day moving average is $334.02 and its two-hundred day moving average is $243.31. The company has a current ratio of 2.54, a quick ratio of 1.32 and a debt-to-equity ratio of 2.80. The company has a market capitalization of $21.56 billion, a PE ratio of 55.20 and a beta of 1.14.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.67%. Ubiquiti’s payout ratio is 37.15%.

Hedge Funds Weigh In On Ubiquiti

Several institutional investors have recently made changes to their positions in the business. SW Investment Management LLC grew 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 valued at $43,698,000 after purchasing an additional 25,000 shares during the period. Millennium Management LLC grew its stake in shares of Ubiquiti by 86.2% during the 2nd 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 during the period. Zacks Investment Management purchased a new stake in Ubiquiti in the 3rd quarter worth approximately $8,892,000. Pacer Advisors Inc. bought a new stake in Ubiquiti during the 3rd quarter worth approximately $7,030,000. Finally, JPMorgan Chase & Co. lifted its holdings in Ubiquiti by 20.4% during the third quarter. JPMorgan Chase & Co. now owns 29,813 shares of the company’s stock valued at $6,610,000 after purchasing an additional 5,045 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.