National Instruments (NASDAQ:NATI) Reaches New 52-Week Low at $31.09

Shares of National Instruments Co. (NASDAQ:NATIGet Rating) hit a new 52-week low during trading on Thursday . The company traded as low as $31.09 and last traded at $31.20, with a volume of 8261 shares trading hands. The stock had previously closed at $31.43.

A number of analysts have recently commented on the company. StockNews.com assumed coverage on National Instruments in a research note on Thursday, March 31st. They set a “buy” rating on the stock. The Goldman Sachs Group cut their price target on National Instruments from $48.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, June 1st. Finally, TheStreet lowered National Instruments from a “b-” rating to a “c+” rating in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $48.20.

The stock has a 50 day moving average of $34.99 and a 200 day moving average of $38.86. The company has a quick ratio of 1.45, a current ratio of 2.24 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 38.33 and a beta of 1.09.

National Instruments (NASDAQ:NATIGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The technology company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). The company had revenue of $385.26 million during the quarter, compared to analyst estimates of $402.73 million. National Instruments had a return on equity of 15.52% and a net margin of 7.24%. National Instruments’s revenue was up 14.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. As a group, sell-side analysts anticipate that National Instruments Co. will post 1.51 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 31st. Shareholders of record on Monday, May 9th were issued a $0.28 dividend. This is an increase from National Instruments’s previous quarterly dividend of $0.25. This represents a $1.12 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date of this dividend was Friday, May 6th. National Instruments’s payout ratio is presently 136.59%.

In other National Instruments news, CEO Eric Howard Starkloff sold 19,032 shares of National Instruments stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $36.14, for a total value of $687,816.48. Following the completion of the sale, the chief executive officer now directly owns 288,978 shares in the company, valued at $10,443,664.92. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Scott Arthur Rust sold 4,921 shares of National Instruments stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $36.14, for a total value of $177,844.94. Following the completion of the sale, the executive vice president now owns 48,892 shares of the company’s stock, valued at $1,766,956.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 35,487 shares of company stock valued at $1,275,500. 0.64% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in shares of National Instruments by 4.7% during the fourth quarter. CIBC Asset Management Inc now owns 5,888 shares of the technology company’s stock valued at $257,000 after acquiring an additional 264 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of National Instruments by 1.8% during the fourth quarter. HighTower Advisors LLC now owns 14,884 shares of the technology company’s stock valued at $652,000 after acquiring an additional 265 shares in the last quarter. Stephens Inc. AR increased its holdings in shares of National Instruments by 4.9% during the first quarter. Stephens Inc. AR now owns 6,046 shares of the technology company’s stock valued at $245,000 after acquiring an additional 280 shares in the last quarter. Advisor Group Holdings Inc. increased its holdings in shares of National Instruments by 4.6% during the first quarter. Advisor Group Holdings Inc. now owns 6,801 shares of the technology company’s stock valued at $269,000 after acquiring an additional 298 shares in the last quarter. Finally, Coastline Trust Co increased its holdings in shares of National Instruments by 0.5% during the first quarter. Coastline Trust Co now owns 60,030 shares of the technology company’s stock valued at $2,437,000 after acquiring an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 89.79% of the company’s stock.

About National Instruments (NASDAQ:NATI)

National Instruments Corporation provides a software-centric platform and systems to engineers and scientists worldwide. Its programming environments software includes NI LabVIEW, a graphical software platform to visualize hardware configuration, measurement data, and debugging of application; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolbox; and NI Measurement Studio, a suite of .NET tools for building engineering applications in Microsoft Visual Studio.

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