National Instruments Corp (NASDAQ:NATI) was the recipient of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,216,000 shares, a growth of 46.5% from the July 31st total of 1,512,600 shares. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 688,900 shares, the short-interest ratio is currently 3.2 days.
NATI stock traded down $0.41 during midday trading on Friday, reaching $44.19. 623,398 shares of the company’s stock traded hands, compared to its average volume of 651,780. National Instruments has a 52-week low of $38.01 and a 52-week high of $51.00. The stock has a market cap of $5.77 billion, a P/E ratio of 32.98 and a beta of 0.92. The stock’s 50-day moving average is $42.86 and its 200 day moving average is $43.25.
National Instruments (NASDAQ:NATI) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.28 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.02). National Instruments had a net margin of 11.22% and a return on equity of 15.03%. The business had revenue of $334.23 million for the quarter, compared to analysts’ expectations of $339.60 million. Sell-side analysts anticipate that National Instruments will post 1.3 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 9th. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. National Instruments’s dividend payout ratio is currently 74.63%.
In other news, Director Jeffrey L. Kodosky sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $42.85, for a total transaction of $85,700.00. Following the completion of the transaction, the director now directly owns 348,410 shares of the company’s stock, valued at $14,929,368.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 21,500 shares of company stock valued at $916,130 over the last three months. 1.79% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in NATI. Valeo Financial Advisors LLC increased its holdings in National Instruments by 261.6% during the second quarter. Valeo Financial Advisors LLC now owns 1,027 shares of the technology company’s stock valued at $43,000 after buying an additional 743 shares during the last quarter. Icon Wealth Partners LLC purchased a new stake in shares of National Instruments in the first quarter worth $49,000. FTB Advisors Inc. increased its stake in shares of National Instruments by 219.4% in the second quarter. FTB Advisors Inc. now owns 1,495 shares of the technology company’s stock worth $62,000 after purchasing an additional 1,027 shares in the last quarter. Transamerica Financial Advisors Inc. purchased a new stake in shares of National Instruments in the second quarter worth $120,000. Finally, ETF Managers Group LLC increased its stake in shares of National Instruments by 8.9% in 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 in the last quarter. 79.60% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently weighed in on NATI shares. BidaskClub raised shares of National Instruments from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. ValuEngine cut shares of National Instruments from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Finally, Zacks Investment Research cut shares of National Instruments from a “hold” rating to a “sell” rating in a report on Saturday, August 3rd. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. National Instruments has an average rating of “Hold” and a consensus price target of $49.33.
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.
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