National Instruments Corp (NATI) Short Interest Down 38.6% in July
National Instruments Corp (NASDAQ:NATI) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,319,464 shares, a drop of 38.6% from the July 13th total of 2,147,793 shares. Approximately 1.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 841,372 shares, the short-interest ratio is currently 1.6 days.
In related news, Director James J. Truchard sold 157,500 shares of National Instruments stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $45.10, for a total transaction of $7,103,250.00. Following the completion of the sale, the director now owns 366,045 shares of the company’s stock, valued at $16,508,629.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey L. Kodosky sold 1,600 shares of National Instruments stock in a transaction on Monday, May 21st. The shares were sold at an average price of $41.41, for a total value of $66,256.00. Following the sale, the director now directly owns 369,345 shares of the company’s stock, valued at approximately $15,294,576.45. The disclosure for this sale can be found here. Insiders have sold 325,572 shares of company stock valued at $14,454,407 in the last three months. 7.98% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Janus Henderson Group PLC lifted its stake in National Instruments by 1.9% during the second quarter. Janus Henderson Group PLC now owns 11,486,408 shares of the technology company’s stock worth $482,199,000 after purchasing an additional 210,830 shares during the last quarter. BlackRock Inc. increased its holdings in shares of National Instruments by 3.7% in the second quarter. BlackRock Inc. now owns 9,363,243 shares of the technology company’s stock worth $393,067,000 after buying an additional 335,811 shares during the period. American Century Companies Inc. increased its holdings in shares of National Instruments by 10.6% in the first quarter. American Century Companies Inc. now owns 2,363,425 shares of the technology company’s stock worth $119,518,000 after buying an additional 226,238 shares during the period. Hermes Investment Management Ltd. increased its holdings in shares of National Instruments by 1.2% in the second quarter. Hermes Investment Management Ltd. now owns 1,230,525 shares of the technology company’s stock worth $51,657,000 after buying an additional 15,088 shares during the period. Finally, Hound Partners LLC purchased a new position in shares of National Instruments in the first quarter worth about $53,674,000. 76.47% of the stock is owned by hedge funds and other institutional investors.
National Instruments (NASDAQ:NATI) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.09. National Instruments had a return on equity of 12.55% and a net margin of 4.87%. The firm had revenue of $341.00 million during the quarter, compared to analyst estimates of $333.40 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. The company’s revenue was up 7.0% compared to the same quarter last year. sell-side analysts forecast that National Instruments will post 1.21 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 4th. Shareholders of record on Monday, August 13th will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Friday, August 10th. National Instruments’s dividend payout ratio (DPR) is currently 97.87%.
NATI has been the subject of several research analyst reports. ValuEngine raised National Instruments from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. TheStreet raised National Instruments from a “c+” rating to a “b” rating in a research note on Friday, July 27th. BidaskClub lowered National Instruments from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 18th. Zacks Investment Research raised National Instruments from a “sell” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, Robert W. Baird dropped their price objective on National Instruments from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Monday, July 30th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $48.33.
National Instruments Company Profile
National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.
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