Brokerages forecast that National Instruments Corp (NASDAQ:NATI) will post sales of $380.05 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for National Instruments’ earnings, with the lowest sales estimate coming in at $378.70 million and the highest estimate coming in at $382.20 million. National Instruments posted sales of $349.75 million in the same quarter last year, which suggests a positive year over year growth rate of 8.7%. The business is expected to report its next quarterly earnings report on Tuesday, January 29th.
According to Zacks, analysts expect that National Instruments will report full year sales of $1.38 billion for the current financial year. For the next year, analysts expect that the business will post sales of $1.48 billion, with estimates ranging from $1.48 billion to $1.49 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow National Instruments.
National Instruments (NASDAQ:NATI) last posted its quarterly earnings results on Thursday, October 25th. The technology company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. The company had revenue of $346.13 million for the quarter, compared to the consensus estimate of $342.65 million. National Instruments had a net margin of 5.50% and a return on equity of 14.02%.
NATI has been the topic of a number of research reports. Zacks Investment Research raised shares of National Instruments from a “hold” rating to a “strong-buy” rating and set a $57.00 target price on the stock in a research note on Thursday, November 1st. Stifel Nicolaus initiated coverage on shares of National Instruments in a research note on Monday, October 22nd. They issued a “hold” rating and a $48.00 target price on the stock. BidaskClub downgraded shares of National Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Finally, Deutsche Bank raised shares of National Instruments from a “hold” rating to a “buy” rating and raised their target price for the company from $45.00 to $50.00 in a research note on Friday, October 26th. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.25.
NASDAQ:NATI traded down $1.31 during trading hours on Monday, reaching $47.00. 515,563 shares of the company were exchanged, compared to its average volume of 618,510. The company has a market cap of $6.40 billion, a P/E ratio of 50.00 and a beta of 0.95. National Instruments has a 52-week low of $38.78 and a 52-week high of $53.57.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 3rd. Stockholders of record on Monday, November 12th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Thursday, November 8th. National Instruments’s dividend payout ratio is presently 97.87%.
In related news, insider Scott Arthur Rust sold 4,576 shares of National Instruments stock in a transaction on Monday, November 19th. The shares were sold at an average price of $48.54, for a total transaction of $222,119.04. Following the sale, the insider now owns 32,169 shares of the company’s stock, valued at approximately $1,561,483.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jeffrey L. Kodosky sold 1,600 shares of National Instruments stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $43.50, for a total transaction of $69,600.00. Following the sale, the director now directly owns 362,745 shares in the company, valued at approximately $15,779,407.50. The disclosure for this sale can be found here. In the last three months, insiders sold 67,355 shares of company stock worth $3,244,672. Insiders own 7.98% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in NATI. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in National Instruments during the 3rd quarter worth $56,634,000. BlackRock Inc. increased its stake in National Instruments by 4.9% during the 3rd quarter. BlackRock Inc. now owns 9,824,840 shares of the technology company’s stock worth $474,835,000 after buying an additional 461,597 shares during the period. William Blair Investment Management LLC grew its holdings in National Instruments by 19.6% during the 3rd quarter. William Blair Investment Management LLC now owns 2,765,862 shares of the technology company’s stock worth $133,674,000 after acquiring an additional 453,597 shares in the last quarter. First Trust Advisors LP grew its holdings in National Instruments by 1,697.8% during the 2nd quarter. First Trust Advisors LP now owns 402,697 shares of the technology company’s stock worth $16,905,000 after acquiring an additional 380,297 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in National Instruments by 89.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 705,500 shares of the technology company’s stock worth $29,617,000 after acquiring an additional 333,500 shares in the last quarter. 77.06% of the stock is currently owned by hedge funds and other institutional investors.
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.
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