National Instruments Corp. (NASDAQ:NATI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued 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. “
A number of other research analysts also recently weighed in on the company. TheStreet upgraded National Instruments Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Stifel Nicolaus lowered 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 analysts have rated the stock with a hold rating and three have given a buy rating to the stock. National Instruments Corp. presently has a consensus rating of “Buy” and an average target price of $31.50.
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Shares of National Instruments Corp. (NASDAQ:NATI) traded down 0.91% during midday trading on Tuesday, reaching $27.14. The company’s stock had a trading volume of 992,936 shares. The company’s 50-day moving average price is $28.05 and its 200 day moving average price is $28.28. The firm has a market capitalization of $3.49 billion, a PE ratio of 41.12 and a beta of 1.05. National Instruments Corp. has a 1-year low of $25.90 and a 1-year high of $31.71.
National Instruments Corp. (NASDAQ:NATI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.06. National Instruments Corp. had a return on equity of 9.70% and a net margin of 6.88%. The business had revenue of $306.10 million for the quarter, compared to the consensus estimate of $311.53 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. National Instruments Corp.’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts forecast that National Instruments Corp. will post $0.71 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Monday, August 15th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $0.80 dividend on an annualized basis and a yield of 2.95%. National Instruments Corp.’s dividend payout ratio (DPR) is currently 123.08%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC increased its position in shares of National Instruments Corp. by 1.2% in the second quarter. Guggenheim Capital LLC now owns 8,445 shares of the company’s stock worth $231,000 after buying an additional 101 shares during the period. Independent Portfolio Consultants Inc. increased its stake in National Instruments Corp. by 1.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 9,460 shares of the company’s stock valued at $285,000 after buying an additional 105 shares during the period. Ladenburg Thalmann Financial Services Inc. increased 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 valued at $148,000 after buying an additional 144 shares during the period. State Treasurer State of Michigan increased its stake in National Instruments Corp. by 0.5% in the second quarter. State Treasurer State of Michigan now owns 40,475 shares of the company’s stock valued at $1,109,000 after buying an additional 200 shares during the period. Finally, Scotia Capital Inc. increased its stake in National Instruments Corp. by 1.6% in the second quarter. Scotia Capital Inc. now owns 13,734 shares of the company’s stock valued at $377,000 after buying an additional 210 shares during the period. Hedge funds and other institutional investors own 73.25% of the company’s stock.
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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