BWS Financial Issues Positive Forecast for Ubiquiti (NYSE:UI) Stock Price

Ubiquiti (NYSE:UI) had its price objective hoisted by BWS Financial from $440.00 to $600.00 in a report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Separately, Barclays increased their price objective on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a report on Friday. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $449.50.

Ubiquiti Stock Up 2.2%

NYSE UI opened at $521.2680 on Monday. The company has a market capitalization of $31.53 billion, a price-to-earnings ratio of 44.29 and a beta of 1.35. Ubiquiti has a twelve month low of $184.00 and a twelve month high of $525.66. The stock has a fifty day simple moving average of $426.08 and a 200 day simple moving average of $373.18.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.31. The business had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a return on equity of 215.74% and a net margin of 27.66%.During the same period in the prior year, the business posted $1.74 earnings per share. Research analysts expect that Ubiquiti will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Tuesday, September 2nd. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s dividend payout ratio (DPR) is 27.19%.

Institutional Trading of Ubiquiti

A number of large investors have recently bought and sold shares of the business. Advisory Services Network LLC grew its holdings in Ubiquiti by 13.2% during the 2nd quarter. Advisory Services Network LLC now owns 1,429 shares of the company’s stock worth $622,000 after acquiring an additional 167 shares during the period. Capital Impact Advisors LLC boosted its position in shares of Ubiquiti by 1.6% during the 2nd quarter. Capital Impact Advisors LLC now owns 23,056 shares of the company’s stock worth $9,491,000 after purchasing an additional 365 shares in the last quarter. Caxton Associates LLP boosted its position in shares of Ubiquiti by 98.4% during the 2nd quarter. Caxton Associates LLP now owns 11,800 shares of the company’s stock worth $4,857,000 after purchasing an additional 5,853 shares in the last quarter. Corient Private Wealth LLC boosted its position in shares of Ubiquiti by 422.5% during the 2nd quarter. Corient Private Wealth LLC now owns 3,511 shares of the company’s stock worth $1,445,000 after purchasing an additional 2,839 shares in the last quarter. Finally, Optimist Retirement Group LLC boosted its position in shares of Ubiquiti by 7.9% during the 2nd quarter. Optimist Retirement Group LLC now owns 836 shares of the company’s stock worth $344,000 after purchasing an additional 61 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Company Profile

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.