Ubiquiti (NYSE:UI) Trading Down 16.6% – Time to Sell?

Ubiquiti Inc. (NYSE:UI) shares dropped 16.6% during mid-day trading on Friday . The stock traded as low as $645.51 and last traded at $633.4780. Approximately 42,243 shares changed hands during trading, a decline of 68% from the average daily volume of 131,392 shares. The stock had previously closed at $759.57.

Analyst Ratings Changes

A number of analysts recently issued reports on UI shares. UBS Group set a $600.00 target price on shares of Ubiquiti in a research report on Monday, August 25th. Weiss Ratings upgraded Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. BWS Financial lifted their price objective on Ubiquiti from $600.00 to $720.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Barclays increased their target price on Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a research report on Friday, August 22nd. Finally, Zacks Research cut Ubiquiti from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $539.67.

Ubiquiti Trading Down 19.4%

The firm has a market capitalization of $37.06 billion, a PE ratio of 52.04 and a beta of 1.50. The firm has a 50-day moving average of $671.75 and a two-hundred day moving average of $503.26.

Ubiquiti (NYSE:UI) last posted its quarterly earnings results on Friday, November 7th. The company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.48 by $0.98. The firm had revenue of $733.77 million during the quarter, compared to the consensus estimate of $702.38 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%. Equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be issued a $0.80 dividend. The ex-dividend date is Monday, November 17th. This represents a $3.20 annualized dividend and a yield of 0.5%. Ubiquiti’s dividend payout ratio (DPR) is presently 27.19%.

Institutional Investors Weigh In On Ubiquiti

Large investors have recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its holdings in shares of Ubiquiti by 31.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 76 shares of the company’s stock valued at $50,000 after acquiring an additional 18 shares in the last quarter. Brooklyn Investment Group increased its holdings in Ubiquiti by 78.8% in the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after purchasing an additional 41 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Ubiquiti by 1,075.0% in the second quarter. Cullen Frost Bankers Inc. now owns 94 shares of the company’s stock valued at $39,000 after purchasing an additional 86 shares during the period. Main Street Group LTD acquired a new position in shares of Ubiquiti during the second quarter worth about $41,000. Finally, Westside Investment Management Inc. boosted its position in shares of Ubiquiti by 100.0% in the third quarter. Westside Investment Management Inc. now owns 102 shares of the company’s stock worth $69,000 after buying an additional 51 shares during the period. Institutional investors and hedge funds own 4.00% of the company’s stock.

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.