Ubiquiti (NYSE:UI) Stock Price Up 6.2% – What’s Next?

Ubiquiti Inc. (NYSE:UI – Get Free Report)’s stock price traded up 6.2% during trading on Thursday. The company traded as high as $598.08 and last traded at $602.7460. 36,921 shares were traded during mid-day trading, a decline of 69% from the average session volume of 120,577 shares. The stock had previously closed at $567.53.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BWS Financial reiterated a “buy” rating and issued a $980.00 price target on shares of Ubiquiti in a report on Tuesday. Weiss Ratings downgraded Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Barclays reduced their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a report on Monday, August 24th. Finally, Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $734.50.

Get Our Latest Stock Analysis on Ubiquiti

Ubiquiti Stock Up 6.6%

The stock has a market cap of $36.60 billion, a PE ratio of 38.26 and a beta of 1.31. The company’s fifty day moving average is $567.60 and its 200 day moving average is $661.93.

Ubiquiti (NYSE:UI – Get Free Report) last released its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.03 by $0.70. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. The company had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. During the same period in the previous year, the firm earned $4.41 earnings per share. Equities analysts expect that Ubiquiti Inc. will post 16.94 EPS for the current year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were issued a $1.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $4.00 annualized dividend and a yield of 0.7%. This is an increase from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s payout ratio is currently 25.24%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new stake in shares of Ubiquiti in the second quarter worth about $556,000. Engineers Gate Manager LP acquired a new stake in Ubiquiti in the second quarter valued at approximately $2,006,000. IFP Advisors Inc grew its position in Ubiquiti by 125.5% in the second quarter. IFP Advisors Inc now owns 442 shares of the company’s stock valued at $236,000 after acquiring an additional 246 shares in the last quarter. Corient Private Wealth LP raised its stake in shares of Ubiquiti by 11.1% during the second quarter. Corient Private Wealth LP now owns 5,819 shares of the company’s stock valued at $3,108,000 after purchasing an additional 583 shares during the period. Finally, Amundi raised its stake in shares of Ubiquiti by 88.5% during the second quarter. Amundi now owns 2,155 shares of the company’s stock valued at $1,151,000 after purchasing an additional 1,012 shares during the period. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Company Profile

(Get Free Report)

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.

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