Ubiquiti (NYSE:UI) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen downgraded shares of Ubiquiti (NYSE:UI) from a buy rating to a hold rating in a research note published on Saturday morning.

Several other brokerages have also issued reports on UI. UBS Group set a $600.00 price target on shares of Ubiquiti in a research note on Monday, August 25th. Barclays boosted their target price on Ubiquiti from $299.00 to $455.00 and gave the company an “underweight” rating in a research note on Tuesday, November 11th. Zacks Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Weiss Ratings cut Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Finally, BWS Financial reaffirmed a “buy” rating and set a $720.00 price objective on shares of Ubiquiti in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $591.67.

Ubiquiti Stock Performance

Shares of Ubiquiti stock traded up $0.67 during mid-day trading on Friday, hitting $558.32. 157,195 shares of the stock were exchanged, compared to its average volume of 134,148. Ubiquiti has a 12 month low of $255.00 and a 12 month high of $803.59. The company has a 50-day simple moving average of $674.30 and a 200 day simple moving average of $512.34. The company has a market capitalization of $33.78 billion, a P/E ratio of 47.44 and a beta of 1.50.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, November 7th. The company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $2.48 by $0.98. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The company had revenue of $733.77 million for the quarter, compared to analysts’ expectations of $702.38 million. Analysts predict that Ubiquiti will post 7.21 EPS for the current year.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Monday, November 17th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend is Monday, November 17th. Ubiquiti’s dividend payout ratio (DPR) is currently 24.46%.

Insider Buying and Selling

In other Ubiquiti news, CAO Kevin Radigan sold 350 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $576.58, for a total value of $201,803.00. Following the completion of the transaction, the chief accounting officer owned 2,768 shares of the company’s stock, valued at $1,595,973.44. The trade was a 11.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 93.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ubiquiti

Several institutional investors and hedge funds have recently made changes to their positions in UI. Envestnet Asset Management Inc. lifted its stake in Ubiquiti by 15.9% in the first quarter. Envestnet Asset Management Inc. now owns 7,541 shares of the company’s stock worth $2,339,000 after purchasing an additional 1,033 shares during the last quarter. Cerity Partners LLC increased its holdings in shares of Ubiquiti by 22.4% in the first quarter. Cerity Partners LLC now owns 1,676 shares of the company’s stock worth $520,000 after buying an additional 307 shares during the period. CWM LLC lifted its stake in shares of Ubiquiti by 16.6% in the 1st quarter. CWM LLC now owns 2,533 shares of the company’s stock valued at $786,000 after acquiring an additional 360 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in Ubiquiti by 19.2% during the 1st quarter. Diversify Advisory Services LLC now owns 905 shares of the company’s stock valued at $294,000 after acquiring an additional 146 shares during the period. Finally, Impact Partnership Wealth LLC grew its position in Ubiquiti by 11.2% during the 1st quarter. Impact Partnership Wealth LLC now owns 1,064 shares of the company’s stock worth $330,000 after acquiring an additional 107 shares during the last quarter. Institutional investors 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.