National Instruments Co. (NASDAQ:NATI) Receives Consensus Recommendation of “Buy” from Brokerages

National Instruments Co. (NASDAQ:NATI) has been given an average recommendation of “Buy” by the five ratings firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $48.67.

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised shares of National Instruments from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $46.00 to $48.00 in a research note on Monday, December 13th. Zacks Investment Research cut shares of National Instruments from a “buy” rating to a “hold” rating in a research note on Friday, November 5th. TheStreet raised shares of National Instruments from a “c+” rating to a “b” rating in a research note on Wednesday, December 8th. Morgan Stanley began coverage on shares of National Instruments in a research note on Wednesday, December 8th. They set an “overweight” rating and a $50.00 target price on the stock. Finally, The Goldman Sachs Group raised shares of National Instruments from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $48.00 in a research note on Sunday, September 26th.

In related news, Director Alexander M. Davern sold 5,000 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $45.85, for a total value of $229,250.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gerhard Paul Fettweis sold 2,175 shares of the business’s stock in a transaction on Friday, November 19th. The shares were sold at an average price of $45.36, for a total transaction of $98,658.00. The disclosure for this sale can be found here. In the last three months, insiders sold 16,007 shares of company stock worth $727,468. 0.64% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in NATI. Point72 Hong Kong Ltd acquired a new position in National Instruments in the third quarter valued at $56,000. Dark Forest Capital Management LP acquired a new position in National Instruments in the second quarter valued at $72,000. FORA Capital LLC raised its holdings in shares of National Instruments by 379.6% during the second quarter. FORA Capital LLC now owns 3,698 shares of the technology company’s stock valued at $156,000 after purchasing an additional 2,927 shares during the period. Heritage Wealth Management LLC raised its holdings in shares of National Instruments by 17.5% during the second quarter. Heritage Wealth Management LLC now owns 3,733 shares of the technology company’s stock valued at $158,000 after purchasing an additional 557 shares during the period. Finally, JustInvest LLC acquired a new position in shares of National Instruments during the second quarter valued at about $210,000. Institutional investors and hedge funds own 88.14% of the company’s stock.

Shares of NASDAQ NATI traded down $0.13 during midday trading on Friday, reaching $41.72. The company’s stock had a trading volume of 838,786 shares, compared to its average volume of 748,779. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.70 and a current ratio of 2.37. National Instruments has a fifty-two week low of $38.10 and a fifty-two week high of $47.08. The business’s 50 day moving average price is $43.14 and its two-hundred day moving average price is $42.29. The company has a market cap of $5.50 billion, a P/E ratio of 104.30 and a beta of 1.10.

National Instruments (NASDAQ:NATI) last released its quarterly earnings results on Thursday, October 28th. The technology company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.24. The company had revenue of $367.20 million during the quarter, compared to the consensus estimate of $373.94 million. National Instruments had a net margin of 3.79% and a return on equity of 13.77%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share. Sell-side analysts forecast that National Instruments will post 1.24 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 29th. Investors of record on Monday, November 8th were paid a $0.27 dividend. This is a boost from National Instruments’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, November 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.59%. National Instruments’s payout ratio is currently 270.01%.

About National Instruments

National Instruments Corp. designs, manufactures, and sells systems to engineers and scientists that accelerate productivity, innovation and discovery. The firm products include Labview, TestStand, FlexLogger, Voltage, Temperature, Software Defined Radios, Power Accessories, and Repair Services. It provides application software and modular, multifunction hardware that users combine with industry-standard computers, networks and third party devices to create measurement, automation and embedded systems, which refer as virtual instruments.

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