National Instruments (NASDAQ:NATI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday, December 28th. The brokerage currently has a $47.00 target price on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 6.07% from the company’s previous close.
According to Zacks, “National Instruments Corporation, or NI, is an American multinational company with international operation. It is a producer of automated test equipment and virtual instrumentation software. Common applications include data acquisition, instrument control and machine vision. National Instruments has equipped engineers and scientists with tools that accelerate productivity, innovation and discovery. NI’s graphical system design approach to engineering provides an integrated software and hardware platform that speeds the development of any system needing measurement and control. The company’s long-term vision and focus on improving society through its technology ensures the success of its customers, employees, suppliers and shareholders. “
Other equities analysts have also recently issued research reports about the stock. Stifel Nicolaus reissued a “buy” rating on shares of National Instruments in a research report on Tuesday, September 26th. BidaskClub cut shares of National Instruments from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 16th.
Shares of National Instruments (NASDAQ:NATI) opened at $44.31 on Thursday. The stock has a market cap of $5,790.00, a P/E ratio of 54.70 and a beta of 0.93. The company has a current ratio of 3.22, a quick ratio of 2.53 and a debt-to-equity ratio of 0.01. National Instruments has a 1-year low of $29.80 and a 1-year high of $46.33.
National Instruments (NASDAQ:NATI) last posted its earnings results on Thursday, October 26th. The technology company reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.02. National Instruments had a net margin of 8.72% and a return on equity of 10.16%. The firm had revenue of $320.90 million during the quarter, compared to the consensus estimate of $319.78 million. During the same quarter last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. research analysts forecast that National Instruments will post 0.93 earnings per share for the current fiscal year.
In other National Instruments news, Director James J. Truchard sold 7,500 shares of National Instruments stock in a transaction on Monday, October 23rd. The shares were sold at an average price of $43.98, for a total value of $329,850.00. Following the transaction, the director now directly owns 8,807,666 shares in the company, valued at $387,361,150.68. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jeffrey L. Kodosky sold 2,000 shares of National Instruments stock in a transaction on Monday, November 6th. The shares were sold at an average price of $45.19, for a total transaction of $90,380.00. Following the completion of the transaction, the director now owns 8,337,537 shares in the company, valued at $376,773,297.03. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,060,751 shares of company stock valued at $46,285,981. 9.92% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in NATI. Schwab Charles Investment Management Inc. boosted its holdings in National Instruments by 7.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 436,850 shares of the technology company’s stock worth $17,571,000 after buying an additional 28,994 shares in the last quarter. State of Wisconsin Investment Board lifted its holdings in shares of National Instruments by 3.0% in the second quarter. State of Wisconsin Investment Board now owns 21,222 shares of the technology company’s stock valued at $854,000 after purchasing an additional 620 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of National Instruments by 1.3% in the second quarter. Bank of New York Mellon Corp now owns 1,589,493 shares of the technology company’s stock valued at $63,928,000 after purchasing an additional 20,175 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of National Instruments by 23.1% in the second quarter. Legal & General Group Plc now owns 87,054 shares of the technology company’s stock valued at $3,502,000 after purchasing an additional 16,362 shares in the last quarter. Finally, Comerica Bank lifted its stake in shares of National Instruments by 1.4% during the second quarter. Comerica Bank now owns 83,274 shares of the technology company’s stock valued at $3,585,000 after buying an additional 1,176 shares during the period. 78.04% of the stock is currently owned by hedge funds and other institutional investors.
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National Instruments Company Profile
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers a line of measurement, automation and control products. It offers products, technology and services, which include system design software, programming tools, application software, modular hardware products and related driver software, production test systems, NI education platform, software products for teaching and hardware products for teaching.
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