National Instruments Corporation (NASDAQ:NATI) Director James J. Truchard sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $40.57, for a total value of $304,275.00. Following the completion of the sale, the director now owns 9,061,416 shares in the company, valued at approximately $367,621,647.12. The transaction was disclosed in a filing with the SEC, which is available at this link.
National Instruments Corporation (NASDAQ NATI) opened at 39.58 on Friday. The stock’s 50 day moving average price is $41.04 and its 200 day moving average price is $35.91. The firm has a market capitalization of $5.16 billion, a P/E ratio of 53.56 and a beta of 0.94. National Instruments Corporation has a 52 week low of $26.74 and a 52 week high of $43.74.
National Instruments Corporation (NASDAQ:NATI) last announced its quarterly earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.08. The business had revenue of $318.61 million for the quarter, compared to analysts’ expectations of $321.07 million. National Instruments Corporation had a return on equity of 9.81% and a net margin of 8.11%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. On average, equities analysts expect that National Instruments Corporation will post $0.92 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Stockholders of record on Monday, August 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date is Thursday, August 10th. National Instruments Corporation’s payout ratio is 107.69%.
NATI has been the topic of several recent research reports. Zacks Investment Research upgraded National Instruments Corporation from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research report on Tuesday, August 1st. BidaskClub lowered National Instruments Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Stifel Nicolaus restated a “buy” rating and issued a $46.00 price objective on shares of National Instruments Corporation in a research report on Sunday, July 30th. Finally, Deutsche Bank AG initiated coverage on National Instruments Corporation in a research report on Tuesday, May 16th. They issued a “hold” rating and a $34.00 price objective on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $40.25.
Several hedge funds have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of National Instruments Corporation by 7,809.7% in the first quarter. BlackRock Inc. now owns 9,143,655 shares of the technology company’s stock worth $297,718,000 after buying an additional 9,028,054 shares during the last quarter. William Blair Investment Management LLC bought a new stake in shares of National Instruments Corporation during the second quarter worth $115,152,000. American Century Companies Inc. bought a new stake in shares of National Instruments Corporation during the second quarter worth $43,967,000. TimesSquare Capital Management LLC bought a new stake in shares of National Instruments Corporation during the first quarter worth $32,218,000. Finally, Wells Fargo & Company MN boosted its stake in shares of National Instruments Corporation by 1,587.5% in the second quarter. Wells Fargo & Company MN now owns 948,054 shares of the technology company’s stock worth $38,130,000 after buying an additional 891,874 shares during the last quarter. Institutional investors and hedge funds own 75.95% of the company’s stock.
About National Instruments Corporation
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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