National Instruments (NASDAQ:NATI) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of National Instruments (NASDAQ:NATI) from a hold rating to a sell rating in a research report released on Thursday morning, 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. “

Several other brokerages also recently issued reports on NATI. Stifel Nicolaus lowered their price target on shares of National Instruments from $50.00 to $46.00 and set a hold rating for the company in a report on Friday, May 1st. Royal Bank of Canada reiterated a hold rating and set a $39.00 price target on shares of National Instruments in a report on Thursday, April 30th. Robert W. Baird boosted their price objective on shares of National Instruments from $30.00 to $46.00 and gave the stock an outperform rating in a research note on Monday, May 4th. Susquehanna Bancshares reissued a hold rating and issued a $35.00 price objective on shares of National Instruments in a research note on Tuesday, June 9th. Finally, JPMorgan Chase & Co. initiated coverage on shares of National Instruments in a research note on Tuesday, April 14th. They issued a neutral rating and a $37.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. National Instruments has a consensus rating of Hold and an average target price of $41.00.

Shares of NASDAQ:NATI opened at $35.50 on Thursday. The company has a fifty day moving average of $38.09 and a 200-day moving average of $38.69. The company has a market capitalization of $4.64 billion, a PE ratio of 30.34 and a beta of 1.03. National Instruments has a 52-week low of $20.42 and a 52-week high of $47.89.

National Instruments (NASDAQ:NATI) last announced its quarterly earnings results on Thursday, July 30th. The technology company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.08). The company had revenue of $301.33 million for the quarter, compared to analyst estimates of $301.51 million. National Instruments had a return on equity of 12.62% and a net margin of 19.25%. Sell-side analysts expect that National Instruments will post 0.88 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC boosted its position in National Instruments by 87.6% during the first quarter. Signaturefd LLC now owns 771 shares of the technology company’s stock valued at $26,000 after acquiring an additional 360 shares during the last quarter. BDO Wealth Advisors LLC acquired a new position in shares of National Instruments during the first quarter valued at about $26,000. CENTRAL TRUST Co acquired a new position in shares of National Instruments during the first quarter valued at about $30,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of National Instruments during the first quarter valued at about $42,000. Finally, FinTrust Capital Advisors LLC acquired a new position in shares of National Instruments during the first quarter valued at about $78,000. 85.03% of the stock is currently owned by institutional investors and hedge funds.

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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