Ubiquiti Networks Inc. (NASDAQ:UBNT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $44.99 and last traded at $44.71, with a volume of 224,332 shares. The stock had previously closed at $44.72.

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

The stock’s 50-day moving average price is $40.24 and its 200-day moving average price is $35.53. The company has a market capitalization of $3.72 billion and a price-to-earnings ratio of 24.45.

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

Several hedge funds recently added to or reduced their stakes in the company. 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 valued at $34,781,000 after buying an additional 1,066,814 shares during the period. TrimTabs Asset Management LLC bought a new stake in Ubiquiti Networks during the fourth quarter valued at about $2,015,000. State of Tennessee Treasury Department increased 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 period. Bank of Montreal Can increased 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 period. Finally, Montag A & Associates Inc. increased its stake in Ubiquiti Networks by 0.9% in the fourth quarter. Montag A & Associates Inc. now owns 190,429 shares of the company’s stock valued at $6,035,000 after buying an additional 1,723 shares during the period.

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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