BidaskClub upgraded shares of National Instruments (NASDAQ:NATI) from a sell rating to a hold rating in a research report report published on Thursday morning.
Other analysts also recently issued reports about the company. Zacks Investment Research upgraded National Instruments from a hold rating to a buy rating and set a $47.00 target price for the company in a research report on Thursday, December 28th. Stifel Nicolaus restated a buy rating and issued a $46.00 price objective on shares of National Instruments in a report on Sunday, October 29th.
Shares of National Instruments (NATI) opened at $46.57 on Thursday. National Instruments has a 52-week low of $29.80 and a 52-week high of $46.58. The firm has a market capitalization of $6,088.79, a price-to-earnings ratio of 55.44 and a beta of 0.93. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.53 and a current ratio of 3.22.
National Instruments (NASDAQ:NATI) last released its earnings results on Thursday, October 26th. The technology company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.02. National Instruments had a return on equity of 10.16% and a net margin of 8.72%. The business had revenue of $320.90 million during the quarter, compared to the consensus estimate of $319.78 million. During the same period last year, the company earned $0.25 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. equities research analysts predict that National Instruments will post 0.93 EPS for the current year.
In related news, Director James J. Truchard sold 985,162 shares of National Instruments stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $43.66, for a total value of $43,012,172.92. Following the completion of the sale, the director now directly owns 8,345,037 shares in the company, valued at $364,344,315.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey L. Kodosky sold 1,600 shares of National Instruments stock in a transaction dated Monday, January 8th. The shares were sold at an average price of $43.77, for a total value of $70,032.00. Following the completion of the sale, the director now owns 8,270,037 shares of the company’s stock, valued at $361,979,519.49. The disclosure for this sale can be found here. Insiders sold 1,047,351 shares of company stock valued at $45,694,538 over the last 90 days. 9.92% of the stock is currently owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC raised its holdings in shares of National Instruments by 2.5% in the third quarter. Janus Henderson Group PLC now owns 10,804,219 shares of the technology company’s stock valued at $455,616,000 after acquiring an additional 262,578 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of National Instruments by 1.5% in the second quarter. Vanguard Group Inc. now owns 9,588,543 shares of the technology company’s stock valued at $385,651,000 after acquiring an additional 138,121 shares in the last quarter. State Street Corp raised its holdings in shares of National Instruments by 0.4% in the second quarter. State Street Corp now owns 2,822,005 shares of the technology company’s stock valued at $113,497,000 after acquiring an additional 10,737 shares in the last quarter. Northern Trust Corp raised its holdings in shares of National Instruments by 1.1% in the second quarter. Northern Trust Corp now owns 1,640,118 shares of the technology company’s stock valued at $65,966,000 after acquiring an additional 17,988 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of National Instruments by 42.0% in the third quarter. American Century Companies Inc. now owns 1,552,368 shares of the technology company’s stock valued at $65,463,000 after acquiring an additional 459,209 shares in the last quarter. Hedge funds and other institutional investors own 78.04% of the company’s stock.
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About National Instruments
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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