Ubiquiti Networks Inc. (NASDAQ:UBNT) shares 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 changing hands. The stock had previously closed at $43.46.

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

The firm has a market capitalization of $3.65 billion and a price-to-earnings ratio of 23.9823. The firm has a 50 day moving average of $39.89 and a 200-day moving average of $35.11.

Ubiquiti Networks (NASDAQ:UBNT) last announced its earnings results on Thursday, May 5th. The company reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.07. The business had revenue of $167.40 million for the quarter, compared to analyst estimates of $164.35 million. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 earnings per share. Analysts predict that Ubiquiti Networks Inc. will post $2.35 EPS for the current year.

A number of hedge funds and institutional investors have recently bought and sold shares of UBNT. Bank of Montreal Can increased its position 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 in the last quarter. California State Teachers Retirement System increased its position 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 in the last quarter. TrimTabs Asset Management LLC purchased a new position in Ubiquiti Networks during the fourth quarter valued at approximately $2,015,000. State of Tennessee Treasury Department increased its position 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 in the last quarter. Finally, Morgan Stanley increased its position in Ubiquiti Networks by 3,468.4% in the fourth quarter. Morgan Stanley now owns 1,097,572 shares of the company’s stock valued at $34,781,000 after buying an additional 1,066,814 shares in 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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