National Instruments Corp. (NATI) Position Decreased by Kornitzer Capital Management Inc. KS
Kornitzer Capital Management Inc. KS cut its stake in shares of National Instruments Corp. (NASDAQ:NATI) by 6.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 520,875 shares of the company’s stock after selling 38,830 shares during the period. Kornitzer Capital Management Inc. KS owned 0.41% of National Instruments Corp. worth $14,272,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. LS Investment Advisors LLC increased 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 valued at $167,000 after buying an additional 2,589 shares during the period. Dearborn Partners LLC increased its stake in National Instruments Corp. by 20.8% in the second quarter. Dearborn Partners LLC now owns 8,700 shares of the company’s stock valued at $238,000 after buying an additional 1,500 shares during the period. Independent Portfolio Consultants Inc. increased its stake in National Instruments Corp. by 56.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 14,835 shares of the company’s stock valued at $406,000 after buying an additional 5,375 shares during the period. Scotia Capital Inc. purchased a new stake in National Instruments Corp. during the first quarter valued at $407,000. Finally, Alpha Windward LLC purchased a new stake in National Instruments Corp. during the second quarter valued at $429,000. Institutional investors own 73.09% of the company’s stock.
National Instruments Corp. (NASDAQ:NATI) traded up 0.07% on Friday, hitting $27.62. The stock had a trading volume of 197,403 shares. The company has a market cap of $3.55 billion, a P/E ratio of 41.85 and a beta of 1.02. National Instruments Corp. has a 52-week low of $25.90 and a 52-week high of $31.71. The stock’s 50-day moving average is $27.93 and its 200-day moving average is $28.03.
National Instruments Corp. (NASDAQ:NATI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $306.10 million for the quarter, compared to analysts’ expectations of $311.53 million. National Instruments Corp. had a net margin of 6.88% and a return on equity of 9.70%. The business’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts expect that National Instruments Corp. will post $0.71 earnings per share for the current year.
Several research analysts have commented on NATI shares. Zacks Investment Research downgraded National Instruments Corp. from a “hold” rating to a “sell” rating in a report on Wednesday, September 21st. TheStreet raised National Instruments Corp. from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Finally, 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 report on Thursday, July 28th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $32.00.
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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