William Blair Investment Management LLC reduced its stake in National Instruments Corp (NASDAQ:NATI) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,272,374 shares of the technology company’s stock after selling 569,493 shares during the quarter. William Blair Investment Management LLC’s holdings in National Instruments were worth $94,599,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. MetLife Investment Advisors LLC purchased a new stake in National Instruments in the 4th quarter valued at $2,824,000. Gotham Asset Management LLC purchased a new stake in National Instruments in the 4th quarter valued at $3,440,000. Vident Investment Advisory LLC grew its holdings in National Instruments by 36.3% in the 4th quarter. Vident Investment Advisory LLC now owns 450,078 shares of the technology company’s stock valued at $18,737,000 after buying an additional 119,879 shares in the last quarter. LPL Financial LLC grew its holdings in National Instruments by 74.2% in the 4th quarter. LPL Financial LLC now owns 28,589 shares of the technology company’s stock valued at $1,192,000 after buying an additional 12,174 shares in the last quarter. Finally, Millennium Management LLC purchased a new stake in National Instruments in the 4th quarter valued at $2,822,000. Institutional investors own 76.96% of the company’s stock.
In related news, Director Jeffrey L. Kodosky sold 1,600 shares of the stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $43.77, for a total transaction of $70,032.00. Following the transaction, the director now owns 8,270,037 shares of the company’s stock, valued at approximately $361,979,519.49. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director James J. Truchard sold 7,500 shares of the stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $41.88, for a total value of $314,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 864,866 shares of company stock worth $43,821,903. Corporate insiders own 9.92% of the company’s stock.
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 return on equity of 10.76% and a net margin of 4.06%. The business had revenue of $349.80 million for the quarter, compared to analyst estimates of $347.38 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 6.3% on a year-over-year basis. research analysts predict that National Instruments Corp will post 1.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 5th. Stockholders of record on Monday, February 12th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 1.79%. The ex-dividend date was Friday, February 9th. This is a positive change from National Instruments’s previous quarterly dividend of $0.21. National Instruments’s dividend payout ratio is 230.01%.
NATI has been the subject of several analyst reports. Zacks Investment Research upgraded National Instruments from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, December 28th. BidaskClub cut National Instruments from a “sell” rating to a “strong sell” rating in a report on Saturday, December 16th. Robert W. Baird restated a “buy” rating on shares of National Instruments in a report on Wednesday, January 31st. ValuEngine upgraded National Instruments from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, Stifel Nicolaus upped their target price on National Instruments from $46.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $47.67.
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National Instruments 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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