Ubiquiti (NYSE:UI) Reaches New 12-Month High – Time to Buy?

Ubiquiti Inc. (NYSE:UI)’s share price hit a new 52-week high on Tuesday . The stock traded as high as $366.73 and last traded at $353.67, with a volume of 14039 shares. The stock had previously closed at $357.25.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. BWS Financial raised their target price on Ubiquiti from $240.00 to $385.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research note on Sunday, November 17th. Finally, Barclays increased their target price on shares of Ubiquiti from $104.00 to $236.00 and gave the company an “underweight” rating in a research report on Monday, November 11th.

Ubiquiti Price Performance

The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The business has a 50 day moving average price of $330.31 and a 200-day moving average price of $241.03. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 55.66 and a beta of 1.14.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were paid a $0.60 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $2.40 annualized dividend and a dividend yield of 0.67%. Ubiquiti’s dividend payout ratio is presently 37.15%.

Hedge Funds Weigh In On Ubiquiti

A number of institutional investors have recently modified their holdings of the company. CIBC Asset Management Inc bought a new position in Ubiquiti in the 2nd quarter valued at about $249,000. Marshall Wace LLP boosted its position in shares of Ubiquiti by 104.4% during the second quarter. Marshall Wace LLP now owns 5,980 shares of the company’s stock valued at $871,000 after buying an additional 3,054 shares during the last quarter. AQR Capital Management LLC grew its holdings in Ubiquiti by 88.8% during the second quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after buying an additional 11,076 shares in the last quarter. Maverick Capital Ltd. raised its position in Ubiquiti by 76.3% in the 2nd quarter. Maverick Capital Ltd. now owns 19,093 shares of the company’s stock valued at $2,781,000 after buying an additional 8,264 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in Ubiquiti by 86.2% during the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after acquiring an additional 27,011 shares in the last quarter. 4.00% of the stock is owned by institutional investors and hedge funds.

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.