Ubiquiti Inc. (NYSE:UI – Get Free Report)’s share price reached a new 52-week low on Thursday . The stock traded as low as $500.23 and last traded at $520.8010, with a volume of 396284 shares trading hands. The stock had previously closed at $580.53.
Analysts Set New Price Targets
Several equities research analysts have issued reports on UI shares. Weiss Ratings cut Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Zacks Research lowered Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 14th. Barclays lowered their price target on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating for the company in a report on Monday, August 24th. Finally, BWS Financial restated a “buy” rating and issued a $980.00 price objective on shares of Ubiquiti in a report on Thursday, August 27th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $734.50.
Read Our Latest Stock Report on Ubiquiti
Ubiquiti Trading Down 10.3%
Ubiquiti (NYSE:UI – Get Free Report) last announced its earnings results on Friday, August 21st. The company reported $4.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.03 by $0.70. Ubiquiti had a return on equity of 85.57% and a net margin of 29.33%.The company had revenue of $937.32 million for the quarter, compared to analyst estimates of $850.50 million. During the same quarter in the previous year, the company earned $4.41 earnings per share. Analysts predict that Ubiquiti Inc. will post 15.53 EPS for the current year.
Ubiquiti Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were paid a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Monday, August 31st. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.80. Ubiquiti’s dividend payout ratio is currently 25.24%.
Hedge Funds Weigh In On Ubiquiti
Institutional investors have recently bought and sold shares of the company. Vision Retirement LLC purchased a new stake in Ubiquiti during the first quarter worth about $25,000. Quarry LP acquired a new position in shares of Ubiquiti in the third quarter valued at approximately $34,000. Compass Financial Management LLC purchased a new stake in Ubiquiti during the 2nd quarter worth approximately $35,000. CIBC Private Wealth Group LLC increased its stake in Ubiquiti by 238.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 71 shares of the company’s stock worth $39,000 after buying an additional 50 shares during the period. Finally, Cherry Tree Wealth Management LLC lifted its holdings in Ubiquiti by 50.0% during the 4th quarter. Cherry Tree Wealth Management LLC now owns 75 shares of the company’s stock worth $42,000 after buying an additional 25 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.
Ubiquiti Company Profile
Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, gateways, switches, security cameras, access-control systems and network management software.
The company markets its products through several technology platforms and brands, including UniFi for enterprise and small-business networking, and airMAX, LTU and related products for wireless internet service providers. Ubiquiti also offers consumer-focused networking products under the AmpliFi brand and operates software and services designed to help customers manage their networks.
Founded in 2003 by Robert Pera, Ubiquiti serves customers internationally through distributors, online channels and other sales partners.
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