Ubiquiti (NYSE:UI) Hits New 52-Week High – Still a Buy?

Shares of Ubiquiti Inc. (NYSE:UI) hit a new 52-week high during mid-day trading on Tuesday . The company 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.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. BWS Financial raised their price target on Ubiquiti from $240.00 to $385.00 and gave the company a “buy” rating in a report on Monday, November 11th. Barclays boosted their price target on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th.

Ubiquiti Trading Up 0.9 %

The company has a debt-to-equity ratio of 2.80, a current ratio of 2.54 and a quick ratio of 1.32. The stock has a 50-day moving average price of $334.02 and a two-hundred day moving average price of $243.31. The stock has a market cap of $21.56 billion, a PE ratio of 55.20 and a beta of 1.14.

Ubiquiti Dividend Announcement

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

Hedge Funds Weigh In On Ubiquiti

Several institutional investors have recently bought and sold shares of UI. Huntington National Bank lifted its position in Ubiquiti by 267.6% in the third quarter. Huntington National Bank now owns 125 shares of the company’s stock worth $28,000 after buying an additional 91 shares during the last quarter. Raleigh Capital Management Inc. bought a new position in Ubiquiti during the 3rd quarter valued at about $47,000. Hanseatic Management Services Inc. bought a new position in Ubiquiti during the 3rd quarter valued at about $76,000. Harvest Fund Management Co. Ltd purchased a new stake in Ubiquiti in the 3rd quarter worth about $126,000. Finally, Atria Investments Inc bought a new stake in Ubiquiti in the third quarter worth about $210,000. 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.