Zacks Investment Research Lowers National Instruments (NASDAQ:NATI) to Sell

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Zacks Investment Research lowered shares of National Instruments (NASDAQ:NATI) from a hold rating to a sell rating in a research report sent to investors on Saturday, Zacks.com reports.

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. “

A number of other analysts also recently commented on the company. BidaskClub raised National Instruments from a sell rating to a hold rating in a research note on Wednesday, July 24th. Deutsche Bank downgraded National Instruments from a buy rating to a hold rating in a research note on Wednesday, May 1st. Finally, ValuEngine downgraded National Instruments from a buy rating to a hold rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $49.33.

Shares of National Instruments stock opened at $41.50 on Friday. The firm’s fifty day simple moving average is $42.49. The company has a market cap of $5.57 billion, a P/E ratio of 30.97 and a beta of 0.93. National Instruments has a 1-year low of $38.01 and a 1-year high of $51.00.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Monday, August 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, August 9th. National Instruments’s dividend payout ratio is presently 74.63%.

In other news, Director Jeffrey L. Kodosky sold 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $45.03, for a total value of $90,060.00. Following the sale, the director now owns 346,410 shares of the company’s stock, valued at approximately $15,598,842.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Arthur Rust sold 3,027 shares of the business’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $40.88, for a total value of $123,743.76. Following the completion of the sale, the insider now directly owns 40,659 shares in the company, valued at approximately $1,662,139.92. The disclosure for this sale can be found here. Insiders sold a total of 22,027 shares of company stock worth $916,749 in the last three months. Company insiders own 1.79% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. ETF Managers Group LLC raised its position in shares of National Instruments by 8.9% during the first quarter. ETF Managers Group LLC now owns 2,861 shares of the technology company’s stock worth $127,000 after purchasing an additional 235 shares during the period. Municipal Employees Retirement System of Michigan raised its position in shares of National Instruments by 1.3% during the second quarter. Municipal Employees Retirement System of Michigan now owns 20,780 shares of the technology company’s stock worth $873,000 after purchasing an additional 260 shares during the period. First National Bank of Omaha raised its position in shares of National Instruments by 8.5% during the second quarter. First National Bank of Omaha now owns 4,955 shares of the technology company’s stock worth $208,000 after purchasing an additional 390 shares during the period. NumerixS Investment Technologies Inc raised its position in shares of National Instruments by 13.3% during the first quarter. NumerixS Investment Technologies Inc now owns 3,400 shares of the technology company’s stock worth $150,000 after purchasing an additional 400 shares during the period. Finally, Dupont Capital Management Corp raised its position in shares of National Instruments by 3.3% during the second quarter. Dupont Capital Management Corp now owns 12,464 shares of the technology company’s stock worth $523,000 after purchasing an additional 400 shares during the period. 79.52% of the stock is currently owned by institutional investors.

National Instruments Company Profile

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.

Further Reading: Retained Earnings

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