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

Shares of Ubiquiti Inc. (NYSE:UIGet Free Report) shot up 8% on Monday following a dividend announcement from the company. 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. Investors of record on Tuesday, February 20th will be issued 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 38.96%.

Wall Street Analyst Weigh In

Several research firms recently commented on UI. StockNews.com lowered Ubiquiti from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Barclays dropped their price objective on Ubiquiti from $105.00 to $93.00 and set an “underweight” rating on the stock in a report on Monday. Finally, BWS Financial dropped their price objective on Ubiquiti from $375.00 to $160.00 and set a “buy” rating on the stock in a report on Monday, November 6th.

Read Our Latest Stock Report on Ubiquiti

Ubiquiti Price Performance

The firm has a fifty day simple moving average of $130.47 and a 200 day simple moving average of $136.76. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of 20.91 and a beta of 1.31.

Hedge Funds Weigh In On Ubiquiti

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC lifted its position in shares of Ubiquiti by 201.5% in the third quarter. Signaturefd LLC now owns 202 shares of the company’s stock valued at $29,000 after acquiring an additional 135 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Ubiquiti by 435.0% in the fourth quarter. Quadrant Capital Group LLC now owns 214 shares of the company’s stock valued at $30,000 after acquiring an additional 174 shares in the last quarter. Parallel Advisors LLC lifted its position 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. Money Concepts Capital Corp lifted its position in shares of Ubiquiti by 294.1% in the fourth quarter. Money Concepts Capital Corp now owns 134 shares of the company’s stock valued at $37,000 after acquiring an additional 100 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its position in Ubiquiti by 70.1% during the second quarter. MetLife Investment Management LLC now owns 228 shares of the company’s stock worth $40,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 3.54% of the company’s stock.

About Ubiquiti

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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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