National Instruments Corp. (NATI) Upgraded by Zacks Investment Research to “Hold”
National Instruments Corp. (NASDAQ:NATI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to 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. “
Several other analysts have also issued reports on NATI. Stifel Nicolaus cut their target price on National Instruments Corp. from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Thursday, July 28th. TheStreet raised National Instruments Corp. from a “hold” rating to a “buy” rating in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.50.
Shares of National Instruments Corp. (NASDAQ:NATI) opened at 28.40 on Wednesday. The stock has a 50 day moving average of $27.88 and a 200 day moving average of $28.14. National Instruments Corp. has a 1-year low of $25.90 and a 1-year high of $31.71. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 43.03 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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.17 by $0.06. The business earned $306.10 million during 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%. National Instruments Corp.’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.25 earnings per share. Analysts predict that National Instruments Corp. will post $0.71 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 15th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend was Thursday, August 11th. National Instruments Corp.’s dividend payout ratio (DPR) is presently 123.08%.
Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of National Instruments Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 8,371,048 shares of the company’s stock worth $229,367,000 after buying an additional 240,468 shares in the last quarter. Janus Capital Management LLC increased its position in shares of 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 in the last quarter. Wellington Management Group LLP increased 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 in the last quarter. Riverbridge Partners LLC increased 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 in the last quarter. Finally, BlackRock Fund Advisors increased its position in shares of National Instruments Corp. by 3.0% in the second quarter. BlackRock Fund Advisors now owns 3,565,362 shares of the company’s stock worth $97,691,000 after buying an additional 103,792 shares in the last quarter. Institutional investors own 73.08% 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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