Kornitzer Capital Management Inc. KS Trims Stake in National Instruments Corp (NATI)

Kornitzer Capital Management Inc. KS reduced its holdings in shares of National Instruments Corp (NASDAQ:NATI) by 42.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 117,335 shares of the technology company’s stock after selling 85,295 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.09% of National Instruments worth $4,926,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in NATI. First Trust Advisors LP lifted its position in shares of National Instruments by 1,697.8% during the second quarter. First Trust Advisors LP now owns 402,697 shares of the technology company’s stock worth $16,905,000 after purchasing an additional 380,297 shares in the last quarter. Synovus Financial Corp raised its holdings in National Instruments by 17,634.1% in the second quarter. Synovus Financial Corp now owns 7,803 shares of the technology company’s stock valued at $328,000 after acquiring an additional 7,759 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in National Instruments in the second quarter valued at $387,000. TD Asset Management Inc. raised its holdings in National Instruments by 2.9% in the second quarter. TD Asset Management Inc. now owns 141,457 shares of the technology company’s stock valued at $5,938,000 after acquiring an additional 4,000 shares in the last quarter. Finally, First Quadrant L P CA raised its holdings in National Instruments by 70.1% in the second quarter. First Quadrant L P CA now owns 175,890 shares of the technology company’s stock valued at $7,384,000 after acquiring an additional 72,507 shares in the last quarter. Institutional investors own 77.17% of the company’s stock.

In related news, Director James J. Truchard sold 17,500 shares of the stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $41.99, for a total value of $734,825.00. Following the transaction, the director now owns 367,845 shares in the company, valued at $15,445,811.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James J. Truchard sold 157,500 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $45.10, for a total value of $7,103,250.00. Following the completion of the transaction, the director now owns 366,045 shares in the company, valued at approximately $16,508,629.50. The disclosure for this sale can be found here. Insiders sold a total of 546,835 shares of company stock worth $24,520,880 in the last quarter. 7.98% of the stock is owned by corporate insiders.

NATI stock traded up $0.24 during mid-day trading on Friday, reaching $47.75. 431,900 shares of the stock traded hands, compared to its average volume of 587,785. National Instruments Corp has a 52-week low of $38.78 and a 52-week high of $53.57. The firm has a market capitalization of $6.23 billion, a PE ratio of 50.84 and a beta of 1.02.

National Instruments (NASDAQ:NATI) last posted its quarterly earnings data on Thursday, July 26th. The technology company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.09. The company had revenue of $341.00 million during the quarter, compared to analyst estimates of $333.40 million. National Instruments had a net margin of 4.87% and a return on equity of 12.55%. The business’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. analysts forecast that National Instruments Corp will post 1.21 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 4th. Stockholders of record on Monday, August 13th will be issued a $0.23 dividend. The ex-dividend date of this dividend is Friday, August 10th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.93%. National Instruments’s dividend payout ratio is 97.87%.

Several analysts have weighed in on NATI shares. ValuEngine upgraded shares of National Instruments from a “hold” rating to a “buy” rating in a research note on Monday, July 30th. TheStreet upgraded shares of National Instruments from a “c+” rating to a “b” rating in a research report on Friday, July 27th. BidaskClub lowered shares of National Instruments from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 18th. Zacks Investment Research upgraded shares of National Instruments from a “sell” rating to a “hold” rating in a research report on Tuesday, July 3rd. Finally, Robert W. Baird decreased their target price on shares of National Instruments from $47.00 to $46.00 and set a “neutral” rating for the company in a research report on Monday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. National Instruments currently has an average rating of “Buy” and an average price target of $48.33.

National Instruments Company Profile

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.

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Institutional Ownership by Quarter for National Instruments (NASDAQ:NATI)

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