Ubiquiti (NYSE:UI) Sets New 12-Month High – Still a Buy?

Ubiquiti Inc. (NYSE:UI) shares hit a new 52-week high during trading on Monday . The company traded as high as $1,093.40 and last traded at $1,084.0450, with a volume of 6581 shares trading hands. The stock had previously closed at $1,084.50.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on UI shares. Weiss Ratings raised shares of Ubiquiti from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 23rd. Wall Street Zen raised shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday. Barclays boosted their price objective on shares of Ubiquiti from $455.00 to $527.00 and gave the company an “underweight” rating in a research report on Friday, February 6th. Finally, BWS Financial boosted their price objective on shares of Ubiquiti from $720.00 to $980.00 and gave the company a “buy” rating in a research report on Monday, April 13th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $702.33.

Ubiquiti Stock Down 5.2%

The company has a market capitalization of $62.05 billion, a P/E ratio of 69.84 and a beta of 1.32. The company’s 50-day simple moving average is $814.76 and its 200 day simple moving average is $682.66.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, February 6th. The company reported $3.88 EPS for the quarter, topping the consensus estimate of $3.08 by $0.80. The company had revenue of $814.87 million during the quarter, compared to the consensus estimate of $716.95 million. Ubiquiti had a net margin of 29.90% and a return on equity of 113.21%. The company’s revenue for the quarter was up 35.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.28 earnings per share. As a group, equities research analysts forecast that Ubiquiti Inc. will post 14.04 earnings per share for the current year.

Ubiquiti Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Tuesday, February 17th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Tuesday, February 17th. Ubiquiti’s payout ratio is currently 21.80%.

Institutional Trading of Ubiquiti

Several large investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management bought a new stake in Ubiquiti in the first quarter worth approximately $288,000. Banque Cantonale Vaudoise grew its position in Ubiquiti by 422.5% in the first quarter. Banque Cantonale Vaudoise now owns 883 shares of the company’s stock worth $698,000 after acquiring an additional 714 shares in the last quarter. Brookstone Capital Management bought a new stake in Ubiquiti in the first quarter worth approximately $618,000. Evolve Private Wealth LLC bought a new stake in Ubiquiti in the first quarter worth approximately $264,000. Finally, Hsbc Holdings PLC lifted its stake in shares of Ubiquiti by 112.5% in the fourth quarter. Hsbc Holdings PLC now owns 4,138 shares of the company’s stock worth $2,290,000 after buying an additional 2,191 shares during the last quarter. 4.00% of the stock is owned by institutional investors.

About Ubiquiti

Ubiquiti Inc (NYSE: UI) is a U.S.-based technology company that designs and sells networking and wireless communication products for enterprise, service provider and consumer markets. Its product portfolio includes Wi?Fi access points, routers and gateways, managed Ethernet switches, network management software, and IP surveillance systems. Ubiquiti’s offerings are organized under several well?known lines—most notably UniFi for managed LAN/Wi?Fi and networked video, AmpliFi for consumer Wi?Fi, and product families targeting service?provider and point?to?point wireless broadband applications.

The company emphasizes integrated hardware and software solutions, with centralized management and cloud?enabled control as core features of its platform approach.