National Instruments Corp. (NATI) Rating Increased to Hold at Zacks Investment Research
National Instruments Corp. (NASDAQ:NATI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “National Instruments Corporation is a leading supplier of computer-based instrumentation hardware and software products that engineers and scientists use in a wide range of industries. These industries are spread across two large markets: test and measurement and industrial automation. The Company provides flexible application software and modular, multifunction hardware that users combine with industry-standard desktop computers and workstations to create virtual instruments. “
Several other analysts have also weighed in on the stock. Stifel Nicolaus decreased their target price on shares of National Instruments Corp. from $33.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, July 28th. TheStreet upgraded shares of National Instruments Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.00.
National Instruments Corp. (NASDAQ:NATI) opened at 28.20 on Wednesday. The company’s 50 day moving average is $27.91 and its 200-day moving average is $28.14. National Instruments Corp. has a 1-year low of $25.90 and a 1-year high of $31.71. The firm has a market cap of $3.63 billion, a price-to-earnings ratio of 42.73 and a beta of 1.05.
National Instruments Corp. (NASDAQ:NATI) last issued its earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.06. National Instruments Corp. had a net margin of 6.88% and a return on equity of 9.70%. The business had revenue of $306.10 million for the quarter, compared to analyst estimates of $311.53 million. During the same period in the previous year, the business earned $0.25 EPS. The firm’s revenue was down .5% on a year-over-year basis. On average, analysts predict that National Instruments Corp. will post $0.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were given a $0.20 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.84%. National Instruments Corp.’s dividend payout ratio (DPR) is presently 123.08%.
A number of institutional investors have recently added to or reduced their stakes in the stock. Janus Capital Management LLC raised its position in National Instruments Corp. by 15.2% in the second quarter. Janus Capital Management LLC now owns 7,691,691 shares of the company’s stock worth $210,752,000 after buying an additional 1,016,889 shares during the period. Wellington Management Group LLP raised its position in shares of National Instruments Corp. by 15.4% in the first quarter. Wellington Management Group LLP now owns 5,971,443 shares of the company’s stock worth $179,800,000 after buying an additional 795,525 shares during the last quarter. Riverbridge Partners LLC raised its position in shares of National Instruments Corp. by 13.5% in the second quarter. Riverbridge Partners LLC now owns 4,838,193 shares of the company’s stock worth $132,566,000 after buying an additional 574,765 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of National Instruments Corp. by 183.4% in the first quarter. Renaissance Technologies LLC now owns 782,166 shares of the company’s stock worth $23,551,000 after buying an additional 506,166 shares during the last quarter. Finally, Baillie Gifford & Co. raised its position in shares of National Instruments Corp. by 159.4% in the second quarter. Baillie Gifford & Co. now owns 522,644 shares of the company’s stock worth $14,320,000 after buying an additional 321,174 shares during the last quarter. Hedge funds and other institutional investors own 73.08% of the company’s stock.
National Instruments Corp. Company Profile
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers graphical system design approach to engineering, which provides an integrated software and hardware platform for measurement and control systems. Its products include reusable hardware and software modules.
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