Ubiquiti’s (UI) Buy Rating Reiterated at BWS Financial

BWS Financial reaffirmed their buy rating on shares of Ubiquiti (NYSE:UI) in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has a $980.00 price target on the stock.

UI has been the subject of a number of other reports. Weiss Ratings lowered shares of Ubiquiti from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Barclays dropped their target price on Ubiquiti from $672.00 to $489.00 and set an “underweight” rating on the stock in a report on Monday, August 24th. Finally, Zacks Research raised Ubiquiti from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Ubiquiti has an average rating of “Moderate Buy” and a consensus target price of $734.50.

Ubiquiti Stock Performance

Shares of UI opened at $609.02 on Tuesday. Ubiquiti has a one year low of $500.23 and a one year high of $1,099.99. The stock’s fifty day moving average is $569.19 and its 200-day moving average is $660.88. The firm has a market capitalization of $36.86 billion, a price-to-earnings ratio of 38.42 and a beta of 1.30.

Ubiquiti (NYSE:UI) last posted its quarterly earnings data on Friday, August 21st. The company reported $4.73 earnings per share for the quarter, topping the consensus estimate of $4.03 by $0.70. The business had revenue of $937.32 million during the quarter, compared to the consensus estimate of $850.50 million. Ubiquiti had a net margin of 29.33% and a return on equity of 85.57%. During the same quarter in the prior year, the company posted $4.41 earnings per share. Analysts forecast that Ubiquiti will post 16.94 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Monday, August 31st were given a $1.00 dividend. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.80. The ex-dividend date was Monday, August 31st. This represents a $4.00 dividend on an annualized basis and a dividend yield of 0.7%. Ubiquiti’s dividend payout ratio is 25.24%.

Institutional Trading of Ubiquiti

Several institutional investors and hedge funds have recently bought and sold shares of UI. Diversify Advisory Services LLC purchased a new position in shares of Ubiquiti in the second quarter worth approximately $1,526,000. Bank of America Corp DE lifted its position in shares of Ubiquiti by 22.3% in the 1st quarter. Bank of America Corp DE now owns 13,750 shares of the company’s stock valued at $10,867,000 after acquiring an additional 2,508 shares in the last quarter. Militia Capital Management LLC acquired a new position in Ubiquiti in the 1st quarter worth approximately $1,581,000. Deutsche Bank AG purchased a new position in Ubiquiti during the 2nd quarter worth approximately $12,832,000. Finally, Walleye Capital LLC purchased a new position in Ubiquiti during the 2nd quarter worth approximately $27,413,000. Institutional investors and hedge funds own 4.00% of the company’s stock.

About Ubiquiti

Ubiquiti Inc develops and sells networking technology for businesses, service providers and consumers worldwide. The company designs products intended to deliver wireless connectivity, network management, security and other communications capabilities, with an emphasis on scalable and easy-to-deploy solutions.

Its product portfolio includes wireless access points, routers, switches, gateways, broadband wireless equipment, network management software, video surveillance systems, security and access-control products, and smart-home devices.