Short Interest in National Instruments Corp (NASDAQ:NATI) Expands By 46.5%

National Instruments Corp (NASDAQ:NATI) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 2,216,000 shares, an increase of 46.5% from the July 31st total of 1,512,600 shares. Based on an average trading volume of 688,900 shares, the days-to-cover ratio is currently 3.2 days. Approximately 1.8% of the company’s shares are short sold.

NATI stock traded down $0.41 during trading on Friday, hitting $44.19. The company had a trading volume of 623,398 shares, compared to its average volume of 651,780. The firm has a market capitalization of $5.77 billion, a P/E ratio of 32.98 and a beta of 0.92. National Instruments has a 52-week low of $38.01 and a 52-week high of $51.00. The company has a 50 day simple moving average of $42.86 and a 200-day simple moving average of $43.25.

National Instruments (NASDAQ:NATI) last posted its quarterly earnings results on Tuesday, July 30th. The technology company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). The company had revenue of $334.23 million during the quarter, compared to analysts’ expectations of $339.60 million. National Instruments had a return on equity of 15.03% and a net margin of 11.22%. As a group, analysts anticipate that National Instruments will post 1.3 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Monday, August 12th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend was Friday, August 9th. National Instruments’s dividend payout ratio (DPR) is 74.63%.

In other news, Director Jeffrey L. Kodosky sold 2,000 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $40.26, for a total value of $80,520.00. Following the sale, the director now owns 348,910 shares of the company’s stock, valued at $14,047,116.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders sold 21,500 shares of company stock worth $916,130. Insiders own 1.79% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Valeo Financial Advisors LLC increased its position in National Instruments by 261.6% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,027 shares of the technology company’s stock valued at $43,000 after purchasing an additional 743 shares during the period. Icon Wealth Partners LLC purchased a new position in National Instruments during the 1st quarter valued at about $49,000. FTB Advisors Inc. increased its position in National Instruments by 219.4% during the 2nd quarter. FTB Advisors Inc. now owns 1,495 shares of the technology company’s stock valued at $62,000 after purchasing an additional 1,027 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in National Instruments during the 2nd quarter valued at about $120,000. Finally, ETF Managers Group LLC increased its position in National Instruments by 8.9% during the 1st quarter. ETF Managers Group LLC now owns 2,861 shares of the technology company’s stock valued at $127,000 after purchasing an additional 235 shares during the period. 79.60% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on NATI. BidaskClub raised shares of National Instruments from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. ValuEngine downgraded shares of National Instruments from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research downgraded shares of National Instruments from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. National Instruments presently has a consensus rating of “Hold” and an average target price of $49.33.

National Instruments Company 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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