National Instruments (NATI) Now Covered by Analysts at Stifel Nicolaus

Analysts at Stifel Nicolaus initiated coverage on shares of National Instruments (NASDAQ:NATI) in a research note issued on Monday. The firm set a “hold” rating and a $48.00 price target on the technology company’s stock. Stifel Nicolaus’ price target would indicate a potential upside of 10.34% from the stock’s current price.

Several other equities research analysts have also recently issued reports on NATI. Zacks Investment Research cut shares of National Instruments from a “hold” rating to a “sell” rating in a research report on Wednesday, June 27th. BidaskClub cut shares of National Instruments from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 26th. ValuEngine cut shares of National Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Finally, TheStreet raised shares of National Instruments from a “c+” rating to a “b” rating in a research report on Friday, July 27th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. National Instruments presently has an average rating of “Hold” and a consensus price target of $49.33.

Shares of NASDAQ NATI opened at $43.50 on Monday. The stock has a market cap of $5.77 billion, a PE ratio of 46.28 and a beta of 1.03. National Instruments has a 12 month low of $38.78 and a 12 month high of $53.57.

National Instruments (NASDAQ:NATI) last issued its quarterly earnings results on Thursday, July 26th. The technology company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.09. The business had revenue of $341.00 million during the quarter, compared to the consensus estimate of $333.40 million. National Instruments had a net margin of 4.87% and a return on equity of 12.55%. The company’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts predict that National Instruments will post 1.21 EPS for the current year.

In related news, Director Jeffrey L. Kodosky sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $45.62, for a total value of $72,992.00. Following the sale, the director now directly owns 363,345 shares of the company’s stock, valued at $16,575,798.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James J. Truchard sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 27th. The stock was sold at an average price of $45.07, for a total transaction of $1,126,750.00. Following the completion of the sale, the director now directly owns 6,345,037 shares in the company, valued at $285,970,817.59. The disclosure for this sale can be found here. Insiders sold 547,535 shares of company stock worth $24,981,102 over the last three months. Corporate insiders own 7.98% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC lifted its position 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 valued at $482,199,000 after buying an additional 210,830 shares in the last quarter. BlackRock Inc. lifted its position in National Instruments by 3.7% during the second quarter. BlackRock Inc. now owns 9,363,243 shares of the technology company’s stock valued at $393,067,000 after buying an additional 335,811 shares in the last quarter. Hermes Investment Management Ltd. lifted its position in National Instruments by 1.2% during the second quarter. Hermes Investment Management Ltd. now owns 1,230,525 shares of the technology company’s stock valued at $51,657,000 after buying an additional 15,088 shares in the last quarter. Baillie Gifford & Co. lifted its position in National Instruments by 4.6% during the second quarter. Baillie Gifford & Co. now owns 765,240 shares of the technology company’s stock valued at $32,124,000 after buying an additional 33,631 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in National Instruments by 89.7% during the second quarter. Canada Pension Plan Investment Board now owns 705,500 shares of the technology company’s stock valued at $29,617,000 after buying an additional 333,500 shares in the last quarter. 76.98% of the stock is currently owned by hedge funds and other institutional investors.

About National Instruments

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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