First Citizens Bank & Trust Co. boosted its stake in shares of National Instruments Corp (NASDAQ:NATI) by 36.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 9,255 shares of the technology company’s stock after acquiring an additional 2,458 shares during the period. First Citizens Bank & Trust Co.’s holdings in National Instruments were worth $411,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of NATI. Executive Wealth Management LLC purchased a new stake in National Instruments during the 4th quarter worth about $25,000. Tributary Capital Management LLC purchased a new position in shares of National Instruments in the 4th quarter valued at about $28,000. Oregon Public Employees Retirement Fund increased its holdings in shares of National Instruments by 4,438.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,923,976 shares of the technology company’s stock valued at $42,000 after acquiring an additional 1,881,579 shares during the last quarter. Financial Gravity Companies Inc. purchased a new position in shares of National Instruments in the 4th quarter valued at about $56,000. Finally, Fort L.P. increased its holdings in shares of National Instruments by 21.2% in the 4th quarter. Fort L.P. now owns 1,605 shares of the technology company’s stock valued at $73,000 after acquiring an additional 281 shares during the last quarter. Institutional investors own 78.07% of the company’s stock.
In related news, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $45.22, for a total transaction of $90,440.00. Following the transaction, the director now owns 355,086 shares in the company, valued at approximately $16,056,988.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 19,500 shares of company stock worth $880,025 in the last 90 days. 1.79% of the stock is currently owned by company insiders.
NASDAQ:NATI opened at $46.88 on Tuesday. The company has a market cap of $6.27 billion, a P/E ratio of 34.99 and a beta of 0.80. National Instruments Corp has a 52-week low of $38.78 and a 52-week high of $51.53.
National Instruments (NASDAQ:NATI) last released its quarterly earnings results on Tuesday, January 29th. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.03). The firm had revenue of $360.10 million for the quarter, compared to analysts’ expectations of $380.05 million. National Instruments had a return on equity of 15.11% and a net margin of 11.41%. As a group, analysts expect that National Instruments Corp will post 1.38 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded National Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday, December 26th. BidaskClub upgraded National Instruments from a “sell” rating to a “hold” rating in a research note on Friday, January 11th. Finally, ValuEngine downgraded National Instruments from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $48.50.
About National Instruments
National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes LabVIEW, a graphical application software package to visualize hardware configuration, measurement data, and debugging of application; LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox with built-in libraries for measurement, analysis, and engineering UI design; and NI Measurement Studio, a suite of .NET tools designed for building engineering applications in Microsoft Visual Studio to acquire, analyze, and display measurement data.
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