National Instruments Corporation (NASDAQ:NATI) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday, July 31st.
A number of other brokerages also recently weighed in on NATI. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 target price on shares of National Instruments Corporation in a report on Sunday, July 30th. Deutsche Bank AG initiated coverage on National Instruments Corporation in a report on Tuesday, May 16th. They issued a “hold” rating and a $34.00 target price on the stock. Finally, Zacks Investment Research raised National Instruments Corporation from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a report on Tuesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.25.
Shares of National Instruments Corporation (NATI) remained flat at $39.58 during trading on Monday. 492,817 shares of the company’s stock were exchanged. National Instruments Corporation has a 12-month low of $26.74 and a 12-month high of $43.74. The company’s 50-day moving average is $41.03 and its 200-day moving average is $35.85. The stock has a market cap of $5.16 billion, a P/E ratio of 53.56 and a beta of 0.94.
National Instruments Corporation (NASDAQ:NATI) last issued its earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.08. The firm had revenue of $318.61 million for the quarter, compared to the consensus estimate of $321.07 million. National Instruments Corporation had a return on equity of 9.81% and a net margin of 8.11%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 EPS. Equities research analysts predict that National Instruments Corporation will post $0.92 EPS for the current fiscal year.
In related news, VP John Charles Roiko sold 1,047 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $38.42, for a total transaction of $40,225.74. Following the sale, the vice president now owns 18,248 shares of the company’s stock, valued at approximately $701,088.16. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alexander M. Davern sold 9,914 shares of the firm’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $38.52, for a total value of $381,887.28. Following the transaction, the chief executive officer now directly owns 84,757 shares of the company’s stock, valued at $3,264,839.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 95,749 shares of company stock worth $3,787,770. 9.92% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of National Instruments Corporation by 0.9% in the first quarter. Fifth Third Bancorp now owns 3,722 shares of the technology company’s stock valued at $121,000 after buying an additional 32 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of National Instruments Corporation by 6.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,058 shares of the technology company’s stock valued at $163,000 after buying an additional 241 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of National Instruments Corporation during the first quarter valued at about $150,000. JPMorgan Chase & Co. raised its position in shares of National Instruments Corporation by 21.5% in the first quarter. JPMorgan Chase & Co. now owns 4,845 shares of the technology company’s stock valued at $158,000 after buying an additional 858 shares in the last quarter. Finally, Dubuque Bank & Trust Co. bought a new position in shares of National Instruments Corporation during the first quarter valued at about $163,000. 75.95% of the stock is owned by institutional investors and hedge funds.
National Instruments Corporation Company Profile
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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