National Instruments Corp (NASDAQ:NATI) Director Jeffrey L. Kodosky sold 1,600 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $49.13, for a total transaction of $78,608.00. Following the transaction, the director now owns 362,145 shares of the company’s stock, valued at approximately $17,792,183.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
NATI traded up $0.34 on Tuesday, reaching $49.58. The company had a trading volume of 28,627 shares, compared to its average volume of 814,233. National Instruments Corp has a 1 year low of $38.78 and a 1 year high of $53.57. The stock has a market cap of $6.58 billion, a PE ratio of 52.72 and a beta of 0.98.
National Instruments (NASDAQ:NATI) last announced its quarterly earnings results on Thursday, October 25th. The technology company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. National Instruments had a net margin of 5.50% and a return on equity of 14.02%. The firm had revenue of $346.13 million during the quarter, compared to analysts’ expectations of $342.65 million. On average, analysts anticipate that National Instruments Corp will post 1.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 12th will be given a $0.23 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.92 dividend on an annualized basis and a yield of 1.86%. National Instruments’s dividend payout ratio (DPR) is presently 97.87%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Stevens Capital Management LP purchased a new stake in shares of National Instruments in the second quarter valued at about $739,000. First Trust Advisors LP raised its holdings in shares of National Instruments by 1,697.8% in the second quarter. First Trust Advisors LP now owns 402,697 shares of the technology company’s stock valued at $16,905,000 after buying an additional 380,297 shares during the last quarter. Swiss National Bank raised its holdings in shares of National Instruments by 6.1% in the second quarter. Swiss National Bank now owns 217,000 shares of the technology company’s stock valued at $9,110,000 after buying an additional 12,400 shares during the last quarter. Eqis Capital Management Inc. raised its holdings in shares of National Instruments by 95.7% in the second quarter. Eqis Capital Management Inc. now owns 22,699 shares of the technology company’s stock valued at $953,000 after buying an additional 11,099 shares during the last quarter. Finally, Xact Kapitalforvaltning AB raised its holdings in shares of National Instruments by 24.0% in the second quarter. Xact Kapitalforvaltning AB now owns 17,560 shares of the technology company’s stock valued at $737,000 after buying an additional 3,400 shares during the last quarter. 76.83% of the stock is owned by hedge funds and other institutional investors.
NATI has been the subject of a number of research reports. Zacks Investment Research raised shares of National Instruments from a “hold” rating to a “strong-buy” rating and set a $57.00 price target for the company in a research report on Thursday, November 1st. Deutsche Bank raised shares of National Instruments from a “hold” rating to a “buy” rating and boosted their price target for the company from $45.00 to $50.00 in a research report on Friday, October 26th. Stifel Nicolaus initiated coverage on shares of National Instruments in a research report on Monday, October 22nd. They issued a “hold” rating and a $48.00 price target for the company. BidaskClub cut shares of National Instruments from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Finally, TheStreet raised shares of National Instruments from a “c+” rating to a “b” rating in a research report on Friday, July 27th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. National Instruments has an average rating of “Buy” and an average target price of $50.25.
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National Instruments Company Profile
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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