Wipfli Financial Advisors LLC Takes $35,000 Position in National Instruments Co. (NASDAQ:NATI)

Posted by Defense World Staff on Jan 19th, 2023

Wipfli Financial Advisors LLC bought a new stake in National Instruments Co. (NASDAQ:NATI – Get Rating) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 932 shares of the technology company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Amundi grew its position in shares of National Instruments by 77.1% in the second quarter. Amundi now owns 4,793,764 shares of the technology company’s stock valued at $150,525,000 after purchasing an additional 2,087,386 shares during the last quarter. Sarasin & Partners LLP grew its position in shares of National Instruments by 15.4% in the third quarter. Sarasin & Partners LLP now owns 4,259,112 shares of the technology company’s stock valued at $160,739,000 after purchasing an additional 568,002 shares during the last quarter. State Street Corp grew its position in shares of National Instruments by 0.5% in the second quarter. State Street Corp now owns 3,604,011 shares of the technology company’s stock valued at $112,553,000 after purchasing an additional 19,462 shares during the last quarter. Riverbridge Partners LLC grew its position in shares of National Instruments by 8.6% in the third quarter. Riverbridge Partners LLC now owns 2,014,310 shares of the technology company’s stock valued at $76,020,000 after purchasing an additional 159,179 shares during the last quarter. Finally, King Luther Capital Management Corp grew its position in shares of National Instruments by 3.4% in the second quarter. King Luther Capital Management Corp now owns 1,536,013 shares of the technology company’s stock valued at $47,970,000 after purchasing an additional 51,017 shares during the last quarter. Institutional investors and hedge funds own 90.87% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird boosted their price target on National Instruments from $46.00 to $50.00 in a research note on Tuesday. Jefferies Financial Group assumed coverage on National Instruments in a research note on Tuesday, November 22nd. They issued a “buy” rating and a $50.00 price target for the company. The Goldman Sachs Group cut their price target on National Instruments from $49.00 to $44.00 and set a “buy” rating for the company in a research note on Friday, October 28th. StockNews.com cut National Instruments from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, UBS Group assumed coverage on National Instruments in a research note on Thursday, October 20th. They issued a “neutral” rating and a $43.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $48.13.

Insider Activity

In other news, EVP Ritu Favre sold 1,437 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $38.18, for a total value of $54,864.66. Following the completion of the transaction, the executive vice president now directly owns 38,465 shares in the company, valued at approximately $1,468,593.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Ritu Favre sold 1,437 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $38.18, for a total value of $54,864.66. Following the completion of the sale, the executive vice president now directly owns 38,465 shares in the company, valued at $1,468,593.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Eric Howard Starkloff sold 1,200 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $54.40, for a total value of $65,280.00. Following the completion of the sale, the chief executive officer now owns 282,278 shares of the company’s stock, valued at $15,355,923.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,437 shares of company stock worth $288,351. Insiders own 0.66% of the company’s stock.

National Instruments Stock Up 0.9 %

NASDAQ NATI opened at $52.50 on Thursday. National Instruments Co. has a fifty-two week low of $29.81 and a fifty-two week high of $54.69. The stock has a market capitalization of $6.85 billion, a PE ratio of 50.00 and a beta of 1.09. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.45 and a quick ratio of 1.58. The business has a fifty day moving average price of $39.84 and a two-hundred day moving average price of $38.71.

National Instruments (NASDAQ:NATI – Get Rating) last announced its quarterly earnings results on Thursday, October 27th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. National Instruments had a return on equity of 16.91% and a net margin of 8.59%. The company had revenue of $427.93 million during the quarter, compared to analysts’ expectations of $426.71 million. Equities analysts expect that National Instruments Co. will post 1.39 earnings per share for the current fiscal year.

National Instruments Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 28th. Stockholders of record on Monday, November 7th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date was Friday, November 4th. National Instruments’s payout ratio is 106.67%.

About National Instruments

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