Ubiquiti (NYSE:UI) Shares Up 8% After Dividend Announcement

Ubiquiti Inc. (NYSE:UIGet Free Report)’s share price shot up 8% during mid-day trading on Monday after the company announced a dividend. The company traded as high as $126.79 and last traded at $126.70. 38,964 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 85,411 shares. The stock had previously closed at $117.30.

The newly announced dividend which will be paid on Monday, February 26th. Shareholders of record on Tuesday, February 20th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend is Friday, February 16th. Ubiquiti’s dividend payout ratio (DPR) is currently 38.96%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com lowered shares of Ubiquiti from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Barclays dropped their price target on shares of Ubiquiti from $105.00 to $93.00 and set an “underweight” rating on the stock in a research report on Monday. Finally, BWS Financial dropped their price target on shares of Ubiquiti from $375.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, November 6th.

Check Out Our Latest Analysis on UI

Ubiquiti Price Performance

The company has a market capitalization of $7.79 billion, a P/E ratio of 20.91 and a beta of 1.31. The company’s 50-day moving average price is $130.47 and its two-hundred day moving average price is $136.76.

Hedge Funds Weigh In On Ubiquiti

Large investors have recently modified their holdings of the stock. Capstone Investment Advisors LLC acquired a new position in shares of Ubiquiti in the fourth quarter valued at about $834,000. Edmond DE Rothschild Holding S.A. grew its stake in shares of Ubiquiti by 83.2% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 1,960 shares of the company’s stock valued at $274,000 after acquiring an additional 890 shares in the last quarter. Parallel Advisors LLC grew its stake in shares of Ubiquiti by 116.5% in the fourth quarter. Parallel Advisors LLC now owns 223 shares of the company’s stock valued at $31,000 after acquiring an additional 120 shares in the last quarter. Weil Company Inc. grew its stake in shares of Ubiquiti by 11.2% in the fourth quarter. Weil Company Inc. now owns 4,161 shares of the company’s stock valued at $581,000 after acquiring an additional 418 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Ubiquiti by 30.0% in the fourth quarter. US Bancorp DE now owns 1,078 shares of the company’s stock valued at $150,000 after acquiring an additional 249 shares in the last quarter. 3.54% of the stock is owned by institutional investors.

Ubiquiti Company Profile

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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.

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