Shares of National Instruments Corp (NASDAQ:NATI) have been assigned an average rating of “Buy” from the six ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $48.00.
A number of equities analysts have recently issued reports on NATI shares. TheStreet upgraded shares of National Instruments from a “c+” rating to a “b” rating in a research note on Friday, July 27th. Zacks Investment Research upgraded shares of National Instruments from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research note on Thursday, August 2nd. BidaskClub cut shares of National Instruments from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. ValuEngine upgraded shares of National Instruments from a “hold” rating to a “buy” rating in a research note on Thursday, July 5th. Finally, Robert W. Baird dropped their price objective on shares of National Instruments from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, July 30th.
National Instruments stock traded down $0.57 during mid-day trading on Wednesday, reaching $48.64. The company had a trading volume of 407,800 shares, compared to its average volume of 579,689. National Instruments has a 52 week low of $38.78 and a 52 week high of $53.57. The company has a market cap of $6.42 billion, a PE ratio of 52.06 and a beta of 1.07.
National Instruments (NASDAQ:NATI) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. National Instruments had a net margin of 4.87% and a return on equity of 12.55%. The firm had revenue of $341.00 million during the quarter, compared to the consensus estimate of $333.40 million. During the same period in the prior year, the firm earned $0.27 EPS. The business’s revenue was up 7.0% on a year-over-year basis. analysts forecast that National Instruments will post 1.21 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 4th. Investors of record on Monday, August 13th were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date was Friday, August 10th. National Instruments’s dividend payout ratio (DPR) is currently 97.87%.
In related news, Director James J. Truchard sold 17,500 shares of the stock in a transaction dated Monday, July 9th. The shares were sold at an average price of $43.60, for a total transaction of $763,000.00. Following the completion of the sale, the director now owns 6,405,037 shares in the company, valued at approximately $279,259,613.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Charles Roiko sold 1,947 shares of the stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $44.99, for a total transaction of $87,595.53. Following the sale, the insider now owns 22,720 shares of the company’s stock, valued at approximately $1,022,172.80. The disclosure for this sale can be found here. Insiders have sold a total of 580,935 shares of company stock valued at $26,428,341 in the last quarter. 7.98% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in NATI. DekaBank Deutsche Girozentrale acquired a new stake in shares of National Instruments during the 1st quarter worth about $320,000. State Board of Administration of Florida Retirement System increased its position in shares of National Instruments by 0.9% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 154,302 shares of the technology company’s stock worth $7,803,000 after purchasing an additional 1,306 shares in the last quarter. Swiss National Bank increased its position in shares of National Instruments by 2.3% during the 1st quarter. Swiss National Bank now owns 204,600 shares of the technology company’s stock worth $10,347,000 after purchasing an additional 4,600 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of National Instruments by 2.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 479,461 shares of the technology company’s stock worth $24,247,000 after purchasing an additional 13,541 shares in the last quarter. Finally, Aperio Group LLC increased its position in shares of National Instruments by 3.2% during the 1st quarter. Aperio Group LLC now owns 74,584 shares of the technology company’s stock worth $3,772,000 after purchasing an additional 2,320 shares in the last quarter. Institutional investors and hedge funds own 77.13% of the company’s stock.
About National Instruments
National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.
Further Reading: Earnings Per Share (EPS)
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