Swiss National Bank boosted its holdings in Nlight Inc (NASDAQ:LASR) by 27.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 51,100 shares of the company’s stock after purchasing an additional 11,100 shares during the quarter. Swiss National Bank owned about 0.14% of Nlight worth $981,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Pinnacle Associates Ltd. raised its holdings in Nlight by 3.6% during the first quarter. Pinnacle Associates Ltd. now owns 851,915 shares of the company’s stock worth $18,981,000 after buying an additional 29,710 shares during the last quarter. Cortina Asset Management LLC lifted its position in Nlight by 9.4% in the 2nd quarter. Cortina Asset Management LLC now owns 194,607 shares of the company’s stock valued at $3,736,000 after acquiring an additional 16,761 shares in the last quarter. AlpInvest Partners B.V. bought a new position in Nlight in the 1st quarter valued at about $3,858,000. Neuberger Berman Group LLC lifted its position in Nlight by 15.2% in the 1st quarter. Neuberger Berman Group LLC now owns 1,514,518 shares of the company’s stock valued at $33,743,000 after acquiring an additional 199,275 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Nlight by 6.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,046,741 shares of the company’s stock valued at $45,601,000 after purchasing an additional 118,714 shares during the last quarter. Institutional investors and hedge funds own 82.20% of the company’s stock.
LASR has been the subject of a number of recent research reports. DA Davidson reissued a “buy” rating and set a $20.00 price objective on shares of Nlight in a report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price (down previously from $21.00) on shares of Nlight in a research report on Tuesday, August 6th. Zacks Investment Research upgraded Nlight from a “sell” rating to a “hold” rating in a report on Thursday, August 22nd. Craig Hallum lowered their price target on Nlight from $23.00 to $16.00 and set an “in-line” rating for the company in a research report on Tuesday, August 6th. Finally, ValuEngine upgraded Nlight from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Nlight presently has an average rating of “Hold” and a consensus price target of $22.56.
Shares of LASR stock traded up $0.08 during trading on Wednesday, hitting $16.14. The company’s stock had a trading volume of 610 shares, compared to its average volume of 308,688. The company has a market cap of $581.52 million, a PE ratio of 50.61 and a beta of 2.11. The business has a fifty day moving average of $14.70 and a 200-day moving average of $19.54. Nlight Inc has a 52 week low of $12.60 and a 52 week high of $27.66.
Nlight (NASDAQ:LASR) last issued its quarterly earnings results on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The business had revenue of $48.05 million for the quarter, compared to the consensus estimate of $47.79 million. Nlight had a return on equity of 2.28% and a net margin of 2.66%. During the same quarter last year, the business posted $0.14 earnings per share. The business’s revenue was down 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Nlight Inc will post -0.18 EPS for the current fiscal year.
In related news, insider Robert Martinsen sold 1,500 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.04, for a total value of $30,060.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Ran Bareket sold 5,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. 5.80% of the stock is owned by corporate insiders.
nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in the industrial, microfabrication, and aerospace and defense markets. The company also produces optical fiber products. It markets and sells its products to original equipment manufacturer primarily through direct sales force in the United States, China, South Korea, Germany, and Finland, as well as through various independent sales representatives and distributors in Asia and Europe.
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