Published On: Sun, Sep 11th, 2016

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 Tuesday.
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 research analysts have also weighed in on NATI. TheStreet upgraded National Instruments Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. FBR & Co restated a “marketperform” rating and issued a $28.00 price target on shares of National Instruments Corp. in a report on Tuesday, May 10th. Finally, Stifel Nicolaus cut their price target on National Instruments Corp. from $33.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.50.

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Shares of National Instruments Corp. (NASDAQ:NATI) traded down 3.02% during mid-day trading on Tuesday, reaching $26.94. The company had a trading volume of 747,238 shares. The firm’s 50-day moving average is $28.13 and its 200 day moving average is $28.30. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 40.82 and a beta of 1.05. National Instruments Corp. has a 12 month low of $25.90 and a 12 month high of $31.71.
National Instruments Corp. (NASDAQ:NATI) last posted its earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The firm had revenue of $306.10 million for the quarter, compared to analyst estimates 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 revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 earnings per share. On average, equities research analysts predict that National Instruments Corp. will post $0.71 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Monday, August 15th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, August 11th. National Instruments Corp.’s dividend payout ratio is currently 123.08%.
Several hedge funds recently added to or reduced their stakes in NATI. BlackRock Institutional Trust Company N.A. increased its position in shares of National Instruments Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,033,588 shares of the company’s stock worth $91,341,000 after buying an additional 14,180 shares during the period. BlackRock Group LTD increased its position in shares of National Instruments Corp. by 24.3% in the first quarter. BlackRock Group LTD now owns 65,089 shares of the company’s stock worth $1,960,000 after buying an additional 12,719 shares during the period. BlackRock Inc. increased its position in shares of National Instruments Corp. by 27.3% in the first quarter. BlackRock Inc. now owns 45,637 shares of the company’s stock worth $1,374,000 after buying an additional 9,787 shares during the period. Teachers Advisors Inc. increased its position in shares of National Instruments Corp. by 6.8% in the first quarter. Teachers Advisors Inc. now owns 116,081 shares of the company’s stock worth $3,495,000 after buying an additional 7,425 shares during the period. Finally, TIAA CREF Investment Management LLC increased its position in shares of National Instruments Corp. by 0.5% in the first quarter. TIAA CREF Investment Management LLC now owns 329,961 shares of the company’s stock worth $9,935,000 after buying an additional 1,560 shares during the period. 73.27% of the stock is currently owned by institutional investors and hedge funds.
About National Instruments Corp.
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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