Ubiquiti (NYSE:UI) Hits New 1-Year High – Still a Buy?

Ubiquiti Inc. (NYSE:UI)’s share price hit a new 52-week high on Wednesday . The company traded as high as $366.34 and last traded at $362.88, with a volume of 15504 shares changing hands. The stock had previously closed at $357.42.

Analyst Ratings Changes

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

Ubiquiti Stock Performance

The stock has a 50 day simple moving average of $280.48 and a 200 day simple moving average of $207.97. The company has a market cap of $20.62 billion, a price-to-earnings ratio of 55.33 and a beta of 1.12. The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti’s payout ratio is 37.15%.

Institutional Trading of Ubiquiti

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Huntington National Bank increased its holdings 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 buying an additional 91 shares during the last quarter. nVerses Capital LLC bought a new stake in Ubiquiti in the second quarter valued at about $44,000. Raleigh Capital Management Inc. bought a new stake in Ubiquiti in the third quarter valued at about $47,000. Hanseatic Management Services Inc. bought a new stake in Ubiquiti in the third quarter valued at about $76,000. Finally, Harvest Fund Management Co. Ltd acquired a new position in Ubiquiti in the third quarter valued at approximately $126,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

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.