Ubiquiti (NYSE:UI) Upgraded to Hold at StockNews.com

StockNews.com upgraded shares of Ubiquiti (NYSE:UI) from a sell rating to a hold rating in a report released on Thursday morning.

Other equities research analysts have also issued reports about the company. BWS Financial reiterated a buy rating and set a $160.00 price objective on shares of Ubiquiti in a research note on Monday, April 8th. Barclays cut their price objective on Ubiquiti from $105.00 to $93.00 and set an underweight rating for the company in a research note on Monday, February 12th.

Ubiquiti Stock Down 0.9 %

Shares of Ubiquiti stock opened at $105.11 on Thursday. Ubiquiti has a twelve month low of $103.00 and a twelve month high of $252.23. The business has a 50-day moving average price of $115.46 and a 200 day moving average price of $121.25. The firm has a market cap of $6.35 billion, a PE ratio of 17.06 and a beta of 1.23.

Ubiquiti (NYSE:UI) last announced its quarterly earnings results on Friday, February 9th. The company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.93 by ($0.57). Ubiquiti had a net margin of 19.83% and a negative return on equity of 392.74%. The business had revenue of $464.95 million during the quarter, compared to analysts’ expectations of $488.56 million. On average, sell-side analysts expect that Ubiquiti will post 6.5 EPS for the current year.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 26th. Stockholders of record on Tuesday, February 20th were given a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.28%. Ubiquiti’s dividend payout ratio (DPR) is presently 38.96%.

Institutional Investors Weigh In On Ubiquiti

Large investors have recently made changes to their positions in the stock. American National Bank lifted its holdings in Ubiquiti by 744.4% in the first quarter. American National Bank now owns 4,163 shares of the company’s stock valued at $482,000 after acquiring an additional 3,670 shares during the last quarter. Fairman Group LLC acquired a new position in Ubiquiti in the fourth quarter valued at approximately $52,000. Quadrature Capital Ltd acquired a new position in Ubiquiti in the fourth quarter valued at approximately $1,461,000. Vanguard Group Inc. lifted its holdings in Ubiquiti by 4.9% in the fourth quarter. Vanguard Group Inc. now owns 78,831 shares of the company’s stock valued at $11,002,000 after acquiring an additional 3,659 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Ubiquiti by 10.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 3,256 shares of the company’s stock valued at $455,000 after acquiring an additional 319 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 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.