National Instruments (NASDAQ:NATI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The brokerage presently has a $59.00 price objective on the technology company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 12.10% from the company’s current price.
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. “
A number of other analysts also recently commented on the company. BidaskClub upgraded National Instruments from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 3rd. ValuEngine upgraded National Instruments from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Robert W. Baird reiterated a “buy” rating on shares of National Instruments in a report on Wednesday, January 31st. Finally, Stifel Nicolaus increased their price target on National Instruments from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $47.67.
Shares of National Instruments (NASDAQ NATI) opened at $52.63 on Tuesday. The company has a market capitalization of $6,825.27, a price-to-earnings ratio of 131.58 and a beta of 0.97. National Instruments has a twelve month low of $31.39 and a twelve month high of $53.57.
National Instruments (NASDAQ:NATI) last released its quarterly earnings data on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $349.80 million during the quarter, compared to the consensus estimate of $347.38 million. National Instruments had a return on equity of 10.76% and a net margin of 4.06%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. research analysts forecast that National Instruments will post 1.19 EPS for the current year.
In related news, Director James J. Truchard sold 7,500 shares of the stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $41.88, for a total value of $314,100.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alexander M. Davern sold 11,925 shares of the stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $50.31, for a total value of $599,946.75. Following the completion of the sale, the chief executive officer now owns 114,938 shares of the company’s stock, valued at $5,782,530.78. The disclosure for this sale can be found here. Over the last quarter, insiders sold 864,866 shares of company stock valued at $43,821,903. 9.92% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of NATI. Nationwide Fund Advisors boosted its position in National Instruments by 1.8% in the 3rd quarter. Nationwide Fund Advisors now owns 495,371 shares of the technology company’s stock valued at $20,890,000 after buying an additional 8,548 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new position in National Instruments in the 3rd quarter valued at about $400,000. Prudential Financial Inc. boosted its position in National Instruments by 2.9% in the 3rd quarter. Prudential Financial Inc. now owns 68,128 shares of the technology company’s stock valued at $2,873,000 after buying an additional 1,890 shares during the last quarter. Principal Financial Group Inc. boosted its position in National Instruments by 0.8% in the 3rd quarter. Principal Financial Group Inc. now owns 458,721 shares of the technology company’s stock valued at $19,343,000 after buying an additional 3,649 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in National Instruments by 0.4% in the 3rd quarter. New York State Common Retirement Fund now owns 568,495 shares of the technology company’s stock valued at $23,973,000 after buying an additional 2,412 shares during the last quarter. 76.96% of the stock is owned by institutional investors.
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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