Ubiquiti (NYSE:UI – Free Report) had its price objective raised by Barclays from $489.00 to $537.00 in a research report sent to investors on Monday morning,Benzinga reports. Barclays currently has an underweight rating on the stock.
Several other research firms also recently issued reports on UI. Zacks Research raised shares of Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. BWS Financial reissued a “buy” rating and issued a $980.00 price objective on shares of Ubiquiti in a research report on Tuesday, September 29th. Finally, Weiss Ratings cut shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Ubiquiti has a consensus rating of “Moderate Buy” and an average price target of $758.50.
View Our Latest Stock Analysis on Ubiquiti
Ubiquiti Stock Down 0.9%
NYSE UI opened at $679.55 on Monday. The stock has a market cap of $41.10 billion, a PE ratio of 38.75 and a beta of 1.34. Ubiquiti has a fifty-two week low of $500.23 and a fifty-two week high of $1,099.99. The business has a 50 day moving average price of $592.20 and a two-hundred day moving average price of $659.16.
Ubiquiti (NYSE:UI – Get Free Report) last posted its quarterly earnings data on Friday, November 6th. The company reported $5.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.25 by $1.07. Ubiquiti had a net margin of 30.08% and a return on equity of 80.29%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $977.45 million. Sell-side analysts anticipate that Ubiquiti will post 16.94 EPS for the current fiscal year.
Ubiquiti Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 23rd. Shareholders of record on Monday, November 16th will be given a $1.00 dividend. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, November 16th. Ubiquiti’s dividend payout ratio is presently 22.59%.
Hedge Funds Weigh In On Ubiquiti
Several institutional investors and hedge funds have recently made changes to their positions in UI. Advisors Asset Management Inc. acquired a new stake in Ubiquiti in the third quarter valued at $9,650,000. Edmond DE Rothschild Holding S.A. grew its holdings in Ubiquiti by 16.7% during the 3rd quarter. Edmond DE Rothschild Holding S.A. now owns 700 shares of the company’s stock worth $397,000 after acquiring an additional 100 shares in the last quarter. Private Advisor Group LLC acquired a new position in Ubiquiti during the 3rd quarter worth $367,000. Ieq Capital LLC grew its holdings in Ubiquiti by 168.6% during the 3rd quarter. Ieq Capital LLC now owns 1,128 shares of the company’s stock worth $640,000 after acquiring an additional 708 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in shares of Ubiquiti by 0.6% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,733 shares of the company’s stock worth $2,119,000 after purchasing an additional 23 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.
About Ubiquiti
Ubiquiti Inc. develops and sells networking technology for businesses, service providers and consumers. Its products include wireless access points, routers, switches and broadband wireless equipment, along with network management software and security devices such as cameras and access control systems. The company markets products under brands including UniFi, airMAX, EdgeMAX and AmpliFi. Its UniFi platform brings together networking, video surveillance and access control products with centralized management tools.
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