Ubiquiti Networks Inc. (NASDAQ:UBNT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $44.37 and last traded at $44.24, with a volume of 369,386 shares. The stock had previously closed at $43.46.

A number of research firms have recently weighed in on UBNT. Zacks Investment Research raised Ubiquiti Networks from a “hold” rating to a “strong-buy” rating and set a $44.00 price target for the company in a report on Monday, May 9th. BMO Capital Markets raised Ubiquiti Networks from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $30.00 to $37.00 in a report on Friday, May 6th. Wunderlich boosted their price target on Ubiquiti Networks from $40.00 to $43.00 and gave the stock a “buy” rating in a report on Friday, May 6th. Credit Suisse Group AG reissued a “hold” rating and issued a $30.00 price target on shares of Ubiquiti Networks in a report on Tuesday, May 3rd. Finally, OTR Global raised Ubiquiti Networks to a “neutral” rating in a report on Monday, April 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $32.10.

The stock has a market capitalization of $3.68 billion and a PE ratio of 24.1754. The stock’s 50 day moving average price is $39.66 and its 200-day moving average price is $34.92.

Ubiquiti Networks (NASDAQ:UBNT) last released its earnings results on Thursday, May 5th. The company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. During the same quarter in the previous year, the business posted $0.47 EPS. The company earned $167.40 million during the quarter, compared to the consensus estimate of $164.35 million. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. On average, analysts forecast that Ubiquiti Networks Inc. will post $2.35 EPS for the current year.

Several large investors recently added to or reduced their stakes in UBNT. Bank of Montreal Can boosted its stake in 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 last quarter. California State Teachers Retirement System boosted 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 valued at $1,797,000 after buying an additional 885 shares during the last quarter. TrimTabs Asset Management LLC bought a new stake in Ubiquiti Networks during the fourth quarter valued at $2,015,000. Dimensional Fund Advisors LP boosted 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 valued at $20,727,000 after buying an additional 268,982 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its stake in Ubiquiti Networks by 5.0% in the fourth quarter. State of Tennessee Treasury Department now owns 770,000 shares of the company’s stock valued at $24,401,000 after buying an additional 36,974 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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