National Instruments (NASDAQ:NATI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Saturday.
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. “
Several other research analysts also recently commented on NATI. Stifel Nicolaus reissued a “buy” rating and issued a $46.00 price target on shares of National Instruments in a report on Sunday, October 29th. BidaskClub downgraded shares of National Instruments from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Finally, Robert W. Baird reissued a “buy” rating on shares of National Instruments in a report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $46.67.
National Instruments (NASDAQ:NATI) last announced its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. National Instruments had a net margin of 4.06% and a return on equity of 10.76%. The firm had revenue of $349.80 million during the quarter, compared to the consensus estimate of $347.38 million. During the same period last year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. equities analysts predict that National Instruments will post 1.19 earnings per share for the current fiscal year.
In other news, Director James J. Truchard sold 7,500 shares of National Instruments stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $41.88, for a total transaction of $314,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jeffrey L. Kodosky sold 2,000 shares of National Instruments stock in a transaction on Monday, November 13th. The stock was sold at an average price of $44.58, for a total transaction of $89,160.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,535 shares of company stock valued at $3,051,458. Insiders own 9.92% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of National Instruments by 2.7% during the 2nd quarter. Citigroup Inc. now owns 9,808 shares of the technology company’s stock worth $395,000 after acquiring an additional 256 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of National Instruments by 1.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 31,801 shares of the technology company’s stock worth $1,279,000 after acquiring an additional 491 shares during the last quarter. Advisor Group Inc. lifted its holdings in shares of National Instruments by 10.6% during the 2nd quarter. Advisor Group Inc. now owns 10,953 shares of the technology company’s stock worth $441,000 after acquiring an additional 1,054 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of National Instruments by 44.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,028 shares of the technology company’s stock worth $169,000 after acquiring an additional 1,241 shares during the last quarter. Finally, American International Group Inc. lifted its holdings in shares of National Instruments by 0.6% during the 3rd quarter. American International Group Inc. now owns 218,908 shares of the technology company’s stock worth $9,231,000 after acquiring an additional 1,391 shares during the last quarter. 78.24% of the stock is owned by 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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