National Instruments Corp (NATI) Short Interest Up 135.7% in January

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National Instruments Corp (NASDAQ:NATI) saw a large increase in short interest in the month of January. As of January 31st, there was short interest totalling 3,886,547 shares, an increase of 135.7% from the January 15th total of 1,648,652 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average trading volume of 1,335,912 shares, the short-interest ratio is presently 2.9 days.

Shares of National Instruments stock traded up $0.41 on Monday, hitting $45.02. 672,207 shares of the company traded hands, compared to its average volume of 959,064. The stock has a market cap of $5.91 billion, a P/E ratio of 33.60 and a beta of 0.77. National Instruments has a 52 week low of $38.78 and a 52 week high of $53.57.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 4th. Stockholders of record on Monday, February 11th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, February 8th. This represents a $1.00 annualized dividend and a dividend yield of 2.22%. This is a boost from National Instruments’s previous quarterly dividend of $0.23. National Instruments’s dividend payout ratio (DPR) is presently 68.66%.

In other National Instruments news, Director Jeffrey L. Kodosky sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $44.47, for a total transaction of $88,940.00. Following the sale, the director now owns 357,045 shares in the company, valued at approximately $15,877,791.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeffrey L. Kodosky sold 1,600 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $49.05, for a total transaction of $78,480.00. Following the sale, the director now owns 360,945 shares in the company, valued at approximately $17,704,352.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,876 shares of company stock worth $1,151,558. 7.98% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia purchased a new position in National Instruments during the fourth quarter worth $1,511,000. Texas Permanent School Fund boosted its stake in National Instruments by 4.2% during the fourth quarter. Texas Permanent School Fund now owns 73,663 shares of the technology company’s stock worth $3,343,000 after buying an additional 2,955 shares during the period. Stephens Inc. AR boosted its stake in National Instruments by 3.2% during the fourth quarter. Stephens Inc. AR now owns 16,748 shares of the technology company’s stock worth $760,000 after buying an additional 515 shares during the period. Ffcm LLC purchased a new position in National Instruments during the fourth quarter worth $136,000. Finally, GAM Holding AG purchased a new position in National Instruments during the fourth quarter worth $516,000. Hedge funds and other institutional investors own 78.44% of the company’s stock.

NATI has been the topic of a number of recent analyst reports. Deutsche Bank upgraded shares of National Instruments from a “hold” rating to a “buy” rating and raised their target price for the stock from $45.00 to $50.00 in a research note on Friday, October 26th. BidaskClub cut shares of National Instruments from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th. Stifel Nicolaus initiated coverage on shares of National Instruments in a research report on Monday, October 22nd. They set a “hold” rating and a $48.00 price objective on the stock. ValuEngine cut shares of National Instruments from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Zacks Investment Research upgraded shares of National Instruments from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research report on Tuesday, December 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. National Instruments presently has an average rating of “Hold” and a consensus price target of $48.50.

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About National Instruments

National Instruments Corporation designs, manufactures, and sells systems to engineers and scientists worldwide. It offers LabVIEW, a system design software for measurement, automation, and control; LabVIEW Real-Time and LabVIEW FPGA, which are software add-ons to LabVIEW; LabVIEW Communications System Design Suite for wireless prototyping; LabWindows/CVI for creating test and control applications; and Measurement Studio consisting of measurement and automation add-on libraries, and additional tools for programmers.

See Also: Hedge Funds

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