National Instrs Corp Stock Price, News & Analysis

National Instruments Corporation (Nasdaq: NATI) reported Q4 2022 revenue of $448 million, a 7% increase year over year, marking an all-time quarterly record. The GAAP operating margin stood at 13%, with a non-GAAP margin of 25%. Diluted GAAP EPS reached $0.30, and non-GAAP EPS was $0.63. For the entire year, total revenue was $1.66 billion, up 13% year over year. The company returned $300 million to stockholders through dividends and stock repurchases. Looking ahead, Q1 2023 guidance projects revenue between $415 million and $445 million, with diluted EPS up year over year.

NI (NASDAQ: NATI) announced validation by the FiRa Consortium of its UWB PHY test solution, enabling device manufacturers and chip designers to automatically test their Ultra-Wideband products against FiRa's PHY specifications. This solution, based on the NI PXI platform, allows customization to meet specific testing needs. David Hall, NI's Director of Marketing, emphasized the importance of automated testing to accelerate time-to-market. The FiRa Certification Program verifies candidate devices' conformity, ensuring NI's test tool is recognized by FiRa Authorized Test Labs for PHY conformance. This development positions NI advantageously for the growing UWB technology market.

On January 23, 2023, Emerson (NYSE: EMR) disclosed its all-cash proposal to acquire National Instruments (NASDAQ: NATI) for $53 per share. The aim is to engage NI's Board in a fair strategic review process, ensuring transparency for NI shareholders. Emerson expressed optimism as they reported ongoing discussions with NI's management regarding the acquisition. Emerson plans to continue pursuing this acquisition without nominating independent directors for NI's upcoming Annual Meeting. The proposal does not have financing conditions or regulatory concerns, positioning it as a compelling offer for all stakeholders.

NI (NASDAQ: NATI) has acknowledged a new acquisition proposal from Emerson, offering $53 per share in cash, up from their previous bid of $48 per share. This proposal is under review as part of NI’s ongoing strategic evaluation to enhance shareholder value. The company aims to provide equal opportunity for all interested buyers by engaging multiple parties, emphasizing that negotiating exclusively with Emerson could undermine shareholder interests. NI’s Board of Directors is committed to conducting this review with feedback from shareholders, while BofA Securities and Wachtell, Lipton, Rosen & Katz serve as financial and legal advisors.

Emerson (NYSE: EMR) has proposed acquiring National Instruments (NASDAQ: NATI) for $53 per share, valuing NI at an enterprise worth of $7.6 billion. This offer, representing a 32% premium over NI's closing price on January 12, 2023, emphasizes cash certainty and bypasses financing contingencies. Emerson's acquisition aligns with its goal to enhance its global automation portfolio, leveraging NI's advanced test and measurement technologies. Despite difficulties in prior engagements, Emerson remains committed to fostering a partnership that promises value for NI shareholders, presenting a compelling case for immediate shareholder consideration.

NI (Nasdaq: NATI) has announced a strategic review to unlock shareholder value, consulting with financial and legal advisors. The Board is considering various strategic options, including potential acquisition interests. Chairman Michael McGrath highlighted a successful transformation focused on vertical markets, resulting in greater bookings. The Company also instituted a limited-duration shareholder rights plan expiring on January 12, 2024, aimed at preventing hostile takeovers and ensuring fair participation in the strategic review. There is no set timeline for the review, and no assurances of specific outcomes have been provided.

NI (Nasdaq: NATI) will release its Q4 2022 financial results on January 31, 2023, at 4:00 p.m. CT. A live audio webcast of the conference call, along with slides, will be accessible on the company’s investor relations website.

Investors can also anticipate management meetings at major upcoming conferences, including the Needham Growth Conference on January 10 and the Susquehanna Technology Conference on March 2.

National Instruments Corporation (NASDAQ: NATI) has appointed Daniel Berenbaum as the new executive vice president and chief financial officer, effective January 9, 2023. He succeeds Karen Rapp, who is retiring but will remain as a strategic advisor during the transition. Berenbaum brings extensive experience from Micron, focusing on financial operations and profitability. NI's president, Eric Starkloff, expressed confidence in Berenbaum's ability to drive growth and improve margins. The company recently restructured its operations, with Scott Rust leading the new Global Operations organization.