National Instruments Corporation (NASDAQ:NATI) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Monday, July 31st.
A number of other analysts have also recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating and set a $46.00 price objective on shares of National Instruments Corporation in a research report on Sunday, July 30th. Deutsche Bank AG started coverage on National Instruments Corporation in a research report on Tuesday, May 16th. They set a “hold” rating and a $34.00 price objective for the company. Finally, Zacks Investment Research raised National Instruments Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Tuesday, May 2nd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. National Instruments Corporation currently has a consensus rating of “Hold” and an average price target of $40.25.
National Instruments Corporation (NATI) traded down 0.64% during midday trading on Monday, hitting $38.96. The stock had a trading volume of 550,226 shares. The stock has a 50-day moving average price of $40.99 and a 200 day moving average price of $36.20. The firm has a market cap of $5.08 billion, a PE ratio of 52.72 and a beta of 0.94. National Instruments Corporation has a one year low of $26.74 and a one year high of $43.74.
National Instruments Corporation (NASDAQ:NATI) last posted its quarterly earnings data on Thursday, July 27th. The technology company reported $0.27 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. National Instruments Corporation had a return on equity of 9.81% and a net margin of 8.11%. The company had revenue of $318.61 million for the quarter, compared to the consensus estimate of $321.07 million. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. On average, analysts predict that National Instruments Corporation will post $0.92 earnings per share for the current year.
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In related news, Director James J. Truchard sold 7,500 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $38.36, for a total transaction of $287,700.00. Following the completion of the transaction, the director now owns 9,136,416 shares of the company’s stock, valued at approximately $350,472,917.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexander M. Davern sold 9,914 shares of the business’s stock in a transaction dated 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 approximately $3,264,839.64. The disclosure for this sale can be found here. Insiders sold 90,249 shares of company stock valued at $3,592,155 in the last ninety days. Insiders own 9.92% of the company’s stock.
Several institutional investors have recently bought and sold shares of 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. Westwood Holdings Group Inc. purchased a new position in shares of National Instruments Corporation during the second quarter valued at about $139,000. Quantbot Technologies LP purchased 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. purchased a new position in shares of National Instruments Corporation during the first quarter valued at about $163,000. 78.90% 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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