Ubiquiti Networks Inc. (NASDAQ:UBNT) saw unusually-strong trading volume on Thursday . Approximately 538,136 shares traded hands during trading, a decline of 5% from the previous session’s volume of 567,773 shares.The stock last traded at $38.02 and had previously closed at $37.70.

UBNT has been the subject of several research reports. Zacks Investment Research lowered Ubiquiti Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. BMO Capital Markets raised Ubiquiti Networks from an “underperform” rating to a “market perform” rating and upped their target price for the stock from $30.00 to $37.00 in a research note on Friday, May 6th. OTR Global raised Ubiquiti Networks to a “neutral” rating in a research note on Monday, April 25th. Wunderlich upped their target price on Ubiquiti Networks from $40.00 to $43.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $30.00 target price on shares of Ubiquiti Networks in a research note on Tuesday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $32.10.

The firm has a market capitalization of $3.15 billion and a P/E ratio of 20.69. The company’s 50-day moving average price is $39.25 and its 200 day moving average price is $34.14.

Ubiquiti Networks (NASDAQ:UBNT) last issued its earnings results on Thursday, May 5th. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.07. The business had revenue of $167.40 million for the quarter, compared to the consensus estimate of $164.35 million. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period last year, the business posted $0.47 EPS. Analysts expect that Ubiquiti Networks Inc. will post $2.35 EPS for the current year.

A number of hedge funds have modified their holdings of UBNT. Bank of Montreal Can increased its stake in shares of Ubiquiti Networks by 21.0% in the fourth quarter. Bank of Montreal Can now owns 39,959 shares of the company’s stock valued at $1,266,000 after buying an additional 6,931 shares during the period. California State Teachers Retirement System increased its stake in Ubiquiti Networks by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 56,716 shares of the company’s stock worth $1,797,000 after buying an additional 885 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Ubiquiti Networks by 2.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 70,214 shares of the company’s stock worth $2,225,000 after buying an additional 1,644 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Ubiquiti Networks by 69.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 654,007 shares of the company’s stock worth $20,727,000 after buying an additional 268,982 shares during the last quarter. Finally, Morgan Stanley increased its stake in Ubiquiti Networks by 3,468.4% in the fourth quarter. Morgan Stanley now owns 1,097,572 shares of the company’s stock worth $34,781,000 after buying an additional 1,066,814 shares during the last quarter.

Ubiquiti Networks, Inc, develops high performance networking technology for service providers and enterprises. The Company’s technology platforms for service providers enable carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems and routing. The Company’s technology platforms for enterprises enable wireless local area network (WLAN) infrastructure, video surveillance products, and machine-to-machine communications.

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