National Instruments Corp. (NASDAQ:NATI) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors 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. “
A number of other research firms also recently issued reports on NATI. TheStreet upgraded National Instruments Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Stifel Nicolaus cut their target price on National Instruments Corp. from $33.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $31.50.
Shares of National Instruments Corp. (NASDAQ:NATI) opened at 27.40 on Wednesday. National Instruments Corp. has a 12 month low of $25.90 and a 12 month high of $31.71. The company’s 50-day moving average price is $27.84 and its 200-day moving average price is $28.20. The firm has a market cap of $3.52 billion, a P/E ratio of 41.52 and a beta of 1.05.
National Instruments Corp. (NASDAQ:NATI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. The business earned $306.10 million during the quarter, compared to the consensus estimate of $311.53 million. National Instruments Corp. had a return on equity of 9.70% and a net margin of 6.88%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 EPS. On average, analysts predict that National Instruments Corp. will post $0.71 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were paid a $0.20 dividend. The ex-dividend date was Thursday, August 11th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.92%. National Instruments Corp.’s payout ratio is presently 123.08%.
Institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of National Instruments Corp. by 643.2% in the second quarter. Tower Research Capital LLC TRC now owns 4,333 shares of the company’s stock worth $119,000 after buying an additional 3,750 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in National Instruments Corp. by 27.1% in the second quarter. Glenmede Trust Co. NA now owns 4,617 shares of the company’s stock worth $126,000 after buying an additional 983 shares during the period. Ladenburg Thalmann Financial Services Inc. boosted its stake in National Instruments Corp. by 3.0% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,901 shares of the company’s stock worth $148,000 after buying an additional 144 shares during the period. LS Investment Advisors LLC boosted its stake in National Instruments Corp. by 73.6% in the second quarter. LS Investment Advisors LLC now owns 6,107 shares of the company’s stock worth $167,000 after buying an additional 2,589 shares during the period. Finally, Barclays PLC boosted its stake in National Instruments Corp. by 23.9% in the second quarter. Barclays PLC now owns 6,154 shares of the company’s stock worth $169,000 after buying an additional 1,187 shares during the period. Hedge funds and other institutional investors own 73.25% 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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