Highland Capital Management LLC purchased a new position in National Instruments Corporation (NASDAQ:NATI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 7,277 shares of the technology company’s stock, valued at approximately $293,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fifth Third Bancorp increased its stake in National Instruments Corporation by 0.9% in the first quarter. Fifth Third Bancorp now owns 3,722 shares of the technology company’s stock worth $121,000 after buying an additional 32 shares during the last quarter. Quantbot Technologies LP purchased a new stake in National Instruments Corporation during the first quarter worth about $150,000. JPMorgan Chase & Co. increased its stake in National Instruments Corporation by 21.5% in the first quarter. JPMorgan Chase & Co. now owns 4,845 shares of the technology company’s stock worth $158,000 after buying an additional 858 shares during the last quarter. Dubuque Bank & Trust Co. purchased a new stake in National Instruments Corporation during the first quarter worth about $163,000. Finally, Acadian Asset Management LLC increased its stake in National Instruments Corporation by 1,847.0% in the first quarter. Acadian Asset Management LLC now owns 5,919 shares of the technology company’s stock worth $193,000 after buying an additional 5,615 shares during the last quarter. 78.90% of the stock is currently owned by institutional investors.
National Instruments Corporation (NASDAQ NATI) traded down 0.64% during trading on Friday, hitting $38.96. The stock had a trading volume of 550,226 shares. National Instruments Corporation has a 12 month low of $26.74 and a 12 month high of $43.74. The company’s 50 day moving average is $41.02 and its 200-day moving average is $36.14. The company has a market cap of $5.08 billion, a PE ratio of 52.72 and a beta of 0.94.
National Instruments Corporation (NASDAQ:NATI) last posted its earnings results on Thursday, July 27th. The technology company reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.08. The company had revenue of $318.61 million during the quarter, compared to analysts’ expectations of $321.07 million. National Instruments Corporation had a return on equity of 9.81% and a net margin of 8.11%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. On average, equities research analysts predict that National Instruments Corporation will post $0.92 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Monday, August 14th will be paid a dividend of $0.21 per share. The ex-dividend date is Thursday, August 10th. This represents a $0.84 annualized dividend and a yield of 2.16%. National Instruments Corporation’s dividend payout ratio (DPR) is 107.69%.
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NATI has been the topic of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 price objective on shares of National Instruments Corporation in a research note on Sunday, July 30th. Deutsche Bank AG initiated coverage on National Instruments Corporation in a research note on Tuesday, May 16th. They issued a “hold” rating and a $34.00 price objective on the stock. BidaskClub downgraded National Instruments Corporation from a “buy” rating to a “hold” rating in a research note on Sunday, August 6th. Finally, Zacks Investment Research raised National Instruments Corporation from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Tuesday, May 2nd. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.25.
In other National Instruments Corporation news, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $40.08, for a total transaction of $80,160.00. Following the completion of the sale, the director now owns 382,771 shares of the company’s stock, valued at $15,341,461.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Alexander M. Davern sold 9,914 shares of National Instruments Corporation stock in a transaction on Friday, May 26th. The shares were sold at an average price of $38.52, for a total value of $381,887.28. Following the completion of the sale, the chief executive officer now directly owns 84,757 shares of the company’s stock, valued at $3,264,839.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,249 shares of company stock valued at $3,592,155. 9.92% of the stock is owned by insiders.
National Instruments Corporation 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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