Wedge Capital Management L L P NC reduced its position in shares of National Instruments Corp (NASDAQ:NATI) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,763 shares of the technology company’s stock after selling 669 shares during the period. Wedge Capital Management L L P NC’s holdings in National Instruments were worth $244,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Transamerica Financial Advisors Inc. purchased a new position in National Instruments in the 2nd quarter worth about $120,000. Meeder Asset Management Inc. increased its stake in National Instruments by 872.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,637 shares of the technology company’s stock worth $152,000 after purchasing an additional 3,263 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in National Instruments in the 3rd quarter worth about $157,000. Barings LLC purchased a new position in National Instruments in the 2nd quarter worth about $202,000. Finally, BBVA USA Bancshares Inc. purchased a new position in National Instruments in the 3rd quarter worth about $203,000. 80.10% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:NATI opened at $46.08 on Tuesday. National Instruments Corp has a fifty-two week low of $38.01 and a fifty-two week high of $48.22. The stock’s 50-day moving average is $42.83 and its two-hundred day moving average is $42.51. The stock has a market cap of $6.04 billion, a PE ratio of 38.40 and a beta of 0.88.
National Instruments (NASDAQ:NATI) last released its earnings results on Tuesday, October 29th. The technology company reported $0.39 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.01. National Instruments had a return on equity of 14.73% and a net margin of 11.90%. The company had revenue of $340.44 million for the quarter, compared to analysts’ expectations of $338.95 million. During the same quarter in the previous year, the business posted $0.45 EPS. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Sell-side analysts forecast that National Instruments Corp will post 1.26 EPS for the current year.
A number of equities analysts recently weighed in on the company. Susquehanna Bancshares assumed coverage on National Instruments in a research note on Friday, October 18th. They issued a “neutral” rating and a $40.00 price target on the stock. Robert W. Baird raised National Instruments from a “neutral” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Thursday, January 9th. ValuEngine raised National Instruments from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, BidaskClub cut National Instruments from a “hold” rating to a “sell” rating in a research note on Friday, December 27th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $46.67.
National Instruments 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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