National Instruments (NATI) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of National Instruments (NASDAQ:NATI) from a hold rating to a buy rating in a research report released on Tuesday morning. Zacks Investment Research currently has $59.00 price objective on the technology company’s stock.

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. “

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Other analysts have also recently issued research reports about the stock. BidaskClub raised shares of National Instruments from a hold rating to a buy rating in a report on Wednesday, January 31st. Stifel Nicolaus raised their target price on shares of National Instruments from $46.00 to $50.00 and gave the company a buy rating in a report on Wednesday, January 31st. ValuEngine raised shares of National Instruments from a hold rating to a buy rating in a report on Thursday, March 1st. Finally, Robert W. Baird reaffirmed a buy rating on shares of National Instruments in a report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. National Instruments currently has an average rating of Buy and an average target price of $47.67.

Shares of National Instruments (NATI) opened at $50.20 on Tuesday. The firm has a market cap of $6,905.31, a P/E ratio of 125.50 and a beta of 0.97. National Instruments has a 1-year low of $31.47 and a 1-year high of $53.57.

National Instruments (NASDAQ:NATI) last issued its earnings results on Tuesday, January 30th. The technology company reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The firm had revenue of $349.80 million for the quarter, compared to analysts’ expectations of $347.38 million. National Instruments had a net margin of 4.06% and a return on equity of 10.76%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. research analysts predict that National Instruments will post 1.19 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 5th. Shareholders of record on Monday, February 12th were issued a dividend of $0.23 per share. The ex-dividend date of this dividend was Friday, February 9th. This represents a $0.92 dividend on an annualized basis and a yield of 1.83%. This is a boost from National Instruments’s previous quarterly dividend of $0.21. National Instruments’s dividend payout ratio (DPR) is presently 230.01%.

In other National Instruments news, insider John Charles Roiko sold 1,846 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $50.27, for a total transaction of $92,798.42. Following the sale, the insider now owns 16,207 shares of the company’s stock, valued at $814,725.89. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director James J. Truchard sold 342,500 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $50.38, for a total transaction of $17,255,150.00. Following the sale, the director now directly owns 8,120,037 shares in the company, valued at approximately $409,087,464.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 864,866 shares of company stock worth $43,821,903. 9.92% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB acquired a new stake in National Instruments during the fourth quarter worth approximately $589,000. MetLife Investment Advisors LLC acquired a new stake in National Instruments during the fourth quarter worth approximately $2,824,000. Gotham Asset Management LLC acquired a new stake in National Instruments during the fourth quarter worth approximately $3,440,000. Vident Investment Advisory LLC raised its holdings in National Instruments by 36.3% during the fourth quarter. Vident Investment Advisory LLC now owns 450,078 shares of the technology company’s stock worth $18,737,000 after purchasing an additional 119,879 shares in the last quarter. Finally, LPL Financial LLC raised its holdings in National Instruments by 74.2% during the fourth quarter. LPL Financial LLC now owns 28,589 shares of the technology company’s stock worth $1,192,000 after purchasing an additional 12,174 shares in the last quarter. 76.96% of the stock is currently 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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