Wasatch Advisors Inc. Has $9.89 Million Holdings in Nlight Inc (LASR)
Wasatch Advisors Inc. raised its position in shares of Nlight Inc (NASDAQ:LASR) by 8.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 443,710 shares of the company’s stock after buying an additional 34,189 shares during the quarter. Wasatch Advisors Inc.’s holdings in Nlight were worth $9,886,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its position in shares of Nlight by 24.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 835,004 shares of the company’s stock valued at $18,545,000 after buying an additional 162,453 shares during the last quarter. BlackRock Inc. grew its position in shares of Nlight by 1.7% in the 3rd quarter. BlackRock Inc. now owns 402,434 shares of the company’s stock valued at $8,938,000 after buying an additional 6,896 shares during the last quarter. Morgan Stanley grew its position in shares of Nlight by 149.5% in the 3rd quarter. Morgan Stanley now owns 111,875 shares of the company’s stock valued at $2,486,000 after buying an additional 67,034 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Nlight by 50.6% in the 3rd quarter. Vanguard Group Inc. now owns 847,755 shares of the company’s stock valued at $18,829,000 after buying an additional 284,783 shares during the last quarter. Finally, Vanguard Group Inc grew its position in shares of Nlight by 50.6% in the 3rd quarter. Vanguard Group Inc now owns 847,755 shares of the company’s stock valued at $18,829,000 after buying an additional 284,783 shares during the last quarter. 90.17% of the stock is owned by institutional investors.
In other Nlight news, insider Scott H. Keeney sold 13,500 shares of the firm’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $22.01, for a total transaction of $297,135.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Ran Bareket sold 5,000 shares of the firm’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $20.53, for a total transaction of $102,650.00. The disclosure for this sale can be found here. Insiders have sold a total of 247,370 shares of company stock worth $5,693,612 over the last three months.
Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.05. Nlight had a net margin of 5.13% and a return on equity of 4.77%. The company had revenue of $41.86 million for the quarter, compared to the consensus estimate of $42.47 million. During the same period last year, the firm posted $0.10 EPS. Nlight’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts expect that Nlight Inc will post 0.14 earnings per share for the current year.
A number of research firms recently commented on LASR. Northcoast Research reaffirmed a “hold” rating on shares of Nlight in a research report on Tuesday, January 29th. Zacks Investment Research downgraded shares of Nlight from a “hold” rating to a “sell” rating in a research report on Tuesday, May 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $26.00 target price (down from $27.00) on shares of Nlight in a research report on Thursday, May 9th. Finally, Craig Hallum began coverage on shares of Nlight in a research report on Friday, February 8th. They issued a “hold” rating and a $20.00 target price on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $27.67.
Nlight Company Profile
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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