National Instruments (NASDAQ:NATI) Raised to “Outperform” at Robert W. Baird

Robert W. Baird upgraded shares of National Instruments (NASDAQ:NATI) from a neutral rating to an outperform rating in a research note released on Thursday, January 9th, Benzinga reports. The brokerage currently has $50.00 price objective on the technology company’s stock.

NATI has been the subject of several other research reports. BidaskClub lowered shares of National Instruments from a hold rating to a sell rating in a research note on Friday, December 27th. Susquehanna Bancshares started coverage on National Instruments in a research note on Friday, October 18th. They issued a neutral rating and a $40.00 price objective on the stock. Finally, ValuEngine raised National Instruments from a hold rating to a buy rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. National Instruments currently has an average rating of Hold and an average price target of $46.67.

NATI opened at $44.52 on Thursday. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 33.22 and a beta of 0.88. National Instruments has a 1 year low of $38.01 and a 1 year high of $48.22. The firm’s fifty day moving average price is $42.47 and its two-hundred day moving average price is $42.42.

National Instruments (NASDAQ:NATI) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.01. National Instruments had a return on equity of 14.73% and a net margin of 11.90%. The firm had revenue of $340.44 million for the quarter, compared to the consensus estimate of $338.95 million. During the same quarter in the previous year, the business earned $0.45 EPS. The company’s revenue was down 1.6% compared to the same quarter last year. As a group, sell-side analysts forecast that National Instruments will post 1.26 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in NATI. BlackRock Inc. lifted its position in shares of National Instruments by 12.9% in the 2nd quarter. BlackRock Inc. now owns 13,961,880 shares of the technology company’s stock worth $586,260,000 after purchasing an additional 1,596,337 shares during the period. Nuveen Asset Management LLC lifted its holdings in National Instruments by 8,324.4% in the second quarter. Nuveen Asset Management LLC now owns 1,320,435 shares of the technology company’s stock worth $55,445,000 after buying an additional 1,304,761 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in National Instruments by 14.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,007,810 shares of the technology company’s stock worth $420,228,000 after buying an additional 1,299,706 shares during the period. D. E. Shaw & Co. Inc. boosted its position in National Instruments by 53.7% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 592,847 shares of the technology company’s stock valued at $24,894,000 after acquiring an additional 207,041 shares in the last quarter. Finally, Millennium Management LLC boosted its position in National Instruments by 4,640.9% during the 3rd quarter. Millennium Management LLC now owns 201,440 shares of the technology company’s stock valued at $8,458,000 after acquiring an additional 197,191 shares in the last quarter. Institutional investors and hedge funds own 80.01% of the company’s stock.

About National Instruments

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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