Equities research analysts expect that National Instruments Corp (NASDAQ:NATI) will report $322.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for National Instruments’ earnings. The lowest sales estimate is $320.57 million and the highest is $324.96 million. National Instruments posted sales of $300.11 million during the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The company is expected to announce its next earnings report after the market closes on Thursday, April 26th.
According to Zacks, analysts expect that National Instruments will report full year sales of $322.77 million for the current fiscal year, with estimates ranging from $1.38 billion to $1.39 billion. For the next year, analysts forecast that the company will post sales of $1.50 billion per share, with estimates ranging from $1.47 billion to $1.53 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover National Instruments.
National Instruments (NASDAQ:NATI) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.01. National Instruments had a return on equity of 10.76% and a net margin of 4.06%. The business had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $347.38 million. During the same period in the previous year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis.
Several equities research analysts have commented on NATI shares. Zacks Investment Research raised National Instruments from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Thursday, December 28th. BidaskClub lowered National Instruments from a “sell” rating to a “strong sell” rating in a research note on Saturday, December 16th. Robert W. Baird lowered National Instruments from an “outperform” rating to a “neutral” rating and set a $50.00 price objective for the company. in a research note on Monday, April 2nd. ValuEngine raised National Instruments from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, Stifel Nicolaus upped their price objective on National Instruments from $46.00 to $50.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. National Instruments presently has a consensus rating of “Buy” and an average price target of $47.75.
National Instruments stock traded down $0.21 during mid-day trading on Tuesday, hitting $50.11. The company had a trading volume of 193,939 shares, compared to its average volume of 614,247. National Instruments has a 12 month low of $31.81 and a 12 month high of $53.57. The company has a market capitalization of $6,554.93, a price-to-earnings ratio of 53.72 and a beta of 0.93.
In other news, Director Jeffrey L. Kodosky sold 1,600 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $44.77, for a total value of $71,632.00. Following the completion of the sale, the director now directly owns 8,262,537 shares of the company’s stock, valued at approximately $369,913,781.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James J. Truchard sold 142,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 20th. The shares were sold at an average price of $52.07, for a total value of $7,419,975.00. Following the completion of the sale, the director now directly owns 7,325,037 shares of the company’s stock, valued at $381,414,676.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 868,066 shares of company stock valued at $44,108,521. 7.98% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of NATI. Amalgamated Bank raised its stake in shares of National Instruments by 5.5% during the 4th quarter. Amalgamated Bank now owns 22,191 shares of the technology company’s stock valued at $924,000 after buying an additional 1,150 shares during the last quarter. Meadow Creek Investment Management LLC raised its stake in shares of National Instruments by 22.3% during the 4th quarter. Meadow Creek Investment Management LLC now owns 6,752 shares of the technology company’s stock valued at $281,000 after buying an additional 1,232 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of National Instruments by 44.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,028 shares of the technology company’s stock valued at $169,000 after buying an additional 1,241 shares during the last quarter. Profund Advisors LLC raised its stake in shares of National Instruments by 11.8% during the 4th quarter. Profund Advisors LLC now owns 13,369 shares of the technology company’s stock valued at $557,000 after buying an additional 1,413 shares during the last quarter. Finally, Hanseatic Management Services Inc. raised its stake in shares of National Instruments by 22.4% during the 4th quarter. Hanseatic Management Services Inc. now owns 9,084 shares of the technology company’s stock valued at $378,000 after buying an additional 1,661 shares during the last quarter. 76.94% of the stock is owned by institutional investors and hedge funds.
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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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