Rice Hall James & Associates LLC reduced its position in shares of National Instruments Corp. (NASDAQ:NATI) by 46.1% during the second quarter, Holdings Channel reports. The firm owned 42,637 shares of the company’s stock after selling 36,405 shares during the period. Rice Hall James & Associates LLC’s holdings in National Instruments Corp. were worth $1,168,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Capital Fund Management S.A. acquired a new stake in National Instruments Corp. during the second quarter worth approximately $510,000. Stoneridge Investment Partners LLC purchased a new stake in shares of National Instruments Corp. during the second quarter valued at approximately $1,279,000. Bank of Montreal Can purchased a new stake in shares of National Instruments Corp. during the second quarter valued at approximately $501,000. Hermes Investment Management Ltd. boosted its stake in shares of National Instruments Corp. by 13.5% in the second quarter. Hermes Investment Management Ltd. now owns 1,255,876 shares of the company’s stock valued at $34,411,000 after buying an additional 149,588 shares during the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of National Instruments Corp. by 73.6% in the second quarter. LS Investment Advisors LLC now owns 6,107 shares of the company’s stock valued at $167,000 after buying an additional 2,589 shares during the last quarter. Institutional investors and hedge funds own 73.09% of the company’s stock.
National Instruments Corp. (NASDAQ:NATI) traded up 0.36% during trading on Monday, reaching $28.06. The company’s stock had a trading volume of 182,116 shares. The company has a market capitalization of $3.61 billion, a PE ratio of 42.52 and a beta of 1.02. National Instruments Corp. has a 52 week low of $25.90 and a 52 week high of $31.71. The company has a 50 day moving average price of $27.98 and a 200-day moving average price of $28.07.
National Instruments Corp. (NASDAQ:NATI) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. National Instruments Corp. had a return on equity of 9.70% and a net margin of 6.88%. The company earned $306.10 million during the quarter, compared to analysts’ expectations of $311.53 million. During the same period last year, the firm earned $0.25 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts anticipate that National Instruments Corp. will post $0.71 earnings per share for the current year.
Several brokerages recently commented on NATI. Stifel Nicolaus dropped their price target on National Instruments Corp. from $33.00 to $32.00 and set a “buy” rating for the company in a research report on Thursday, July 28th. Zacks Investment Research cut National Instruments Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, July 30th. Finally, TheStreet upgraded National Instruments Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $32.00.
About National Instruments Corp.
National Instruments Corporation (NI) designs, manufactures and sells systems to engineers and scientists. The Company offers graphical system design approach to engineering, which provides an integrated software and hardware platform for measurement and control systems. Its products include reusable hardware and software modules.
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