National Instruments (NASDAQ:NATI) upgraded to “buy” from Zacks Investment Research

National Instruments (NASDAQ:NATI – Get an Assessment) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released Wednesday, reports. The brokerage currently has a price target of $44.00 on shares of the technology company. Zacks Investment Research’s price target would indicate a potential upside of 11.08% from the company’s current price.

According to Zacks, “National Instruments Corporation, or NI, is an American multinational operating internationally. 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 systems design approach to engineering provides an integrated software and hardware platform that accelerates the development of any system requiring 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 equity research analysts have also recently released reports on the company. launched coverage on National Instruments in a research report on Thursday, March 31. They issued a “buy” rating on the stock. Susquehanna upgraded National Instruments shares from a “neutral” rating to a “positive” rating and raised its price target for the stock from $48.00 to $50.00 in a Friday 28 research note. january. Finally, Susquehanna Bancshares upgraded National Instruments shares from a “neutral” to a “positive” rating and raised its price target for the company from $48.00 to $50.00 in a research note from the Friday January 28. One research analyst gave the stock a hold rating and six gave the stock a buy rating. According to data from, National Instruments has an average rating of “Buy” and a consensus target price of $48.33.

NATI opened at $39.61 on Wednesday. The company has a market capitalization of $5.23 billion, a price-earnings ratio of 60.02 and a beta of 1.08. The company has a current ratio of 2.09, a quick ratio of 1.44 and a debt ratio of 0.25. The stock’s fifty-day moving average is $39.80. National Instruments has a fifty-two week low of $36.67 and a fifty-two week high of $46.42.

National Instruments (NASDAQ:NATI – Get Rating) last reported quarterly earnings data on Thursday, January 27. The technology company reported earnings per share (EPS) of $0.49 for the quarter, beating Thomson Reuters consensus estimate of $0.44 by $0.05. National Instruments achieved a return on equity of 14.67% and a net margin of 6.08%. The company posted revenue of $420.64 million in the quarter, compared to analyst estimates of $411.42 million. During the same period last year, the company earned earnings per share of $0.41. National Instruments’ quarterly revenue increased 14.4% over the same quarter last year. On average, equity research analysts expect National Instruments to post EPS of 1.63 for the current fiscal year.

In related news, director Michael E. McGrath acquired 2,000 shares of the company in a transaction that took place on Monday, January 31. The shares were acquired at an average price of $41.00 per share, with a total value of $82,000.00. The purchase was disclosed in a filing with the SEC, which is available via this hyperlink. Additionally, Executive Vice President Scott Arthur Rust sold 1,429 shares of the company in a trade on Monday, January 31. The shares were sold at an average price of $40.44, for a total transaction of $57,788.76. The disclosure of this sale can be found here. Last quarter, insiders sold 9,582 shares of the company worth $385,142. 0.66% of the shares are held by insiders of the company.

Institutional investors and hedge funds have recently been buying and selling shares of the company. Sarasin & Partners LLP increased its stake in National Instruments by 319.8% in the fourth quarter. Sarasin & Partners LLP now owns 3,265,787 shares of the technology company worth $142,617,000 after purchasing an additional 2,487,888 shares during the period. Norges Bank bought a new stake in National Instruments in the fourth quarter worth approximately $59,046,000. TD Asset Management Inc. increased its position in National Instruments shares by 96.0% in the fourth quarter. TD Asset Management Inc. now owns 1,077,464 shares of the technology company valued at $47,053,000 after purchasing an additional 527,862 shares during the period. Millennium Management LLC increased its position in National Instruments shares by 31.7% in the fourth quarter. Millennium Management LLC now owns 1,975,424 shares of the technology company valued at $86,267,000 after purchasing an additional 475,336 shares during the period. Finally, Geode Capital Management LLC increased its position in National Instruments shares by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 3,153,618 shares of the technology company valued at $137,718,000 after purchasing an additional 447,983 shares during the period. Institutional investors hold 89.73% of the company’s shares.

About National Instruments (Get a rating)

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 for viewing hardware configuration, measurement data, and application debugging; NI LabWindows/CVI, an ANSI C integrated development environment and engineering toolkit; and NI Measurement Studio, a suite of .NET tools for building engineering applications in Microsoft Visual Studio.

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