Ubiquiti (NYSE:UI) Shares Down 16.6% – Time to Sell?

Ubiquiti Inc. (NYSE:UI) dropped 16.6% during mid-day trading on Friday . The company traded as low as $645.51 and last traded at $633.4780. Approximately 42,243 shares changed hands during trading, a decline of 68% from the average daily volume of 131,392 shares. The stock had previously closed at $759.57.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BWS Financial upped their target price on shares of Ubiquiti from $600.00 to $720.00 and gave the stock a “buy” rating in a report on Monday, October 13th. UBS Group set a $600.00 price objective on shares of Ubiquiti in a research report on Monday, August 25th. Barclays raised their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a research note on Friday, August 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Ubiquiti in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded Ubiquiti from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ubiquiti presently has an average rating of “Hold” and an average target price of $539.67.

Ubiquiti Trading Down 18.0%

The stock has a market capitalization of $37.67 billion, a P/E ratio of 52.85 and a beta of 1.50. The company’s fifty day simple moving average is $670.09 and its 200 day simple moving average is $499.55.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping the consensus estimate of $2.23 by $1.31. The business had revenue of $759.15 million during the quarter, compared to analysts’ expectations of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same period in the previous year, the business earned $1.74 earnings per share. Equities research analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.80 per share. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 annualized dividend and a dividend yield of 0.5%. Ubiquiti’s dividend payout ratio is 27.19%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Greenleaf Trust bought a new position in shares of Ubiquiti in the 2nd quarter worth approximately $227,000. Maverick Capital Ltd. bought a new position in Ubiquiti in the 1st quarter worth about $1,293,000. One Wealth Advisors LLC bought a new stake in Ubiquiti during the 2nd quarter valued at about $219,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Ubiquiti by 72.8% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 1,317 shares of the company’s stock valued at $543,000 after acquiring an additional 555 shares in the last quarter. Finally, Baron Wealth Management LLC purchased a new position in Ubiquiti in the 2nd quarter worth approximately $382,000. Institutional investors own 4.00% of the company’s stock.

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.