Benchmark Cuts Nlight (LASR) Price Target to $14.00

Nlight (NASDAQ:LASR) had its price objective decreased by equities researchers at Benchmark from $17.00 to $14.00 in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm presently has a “sell” rating on the stock. Benchmark’s price target indicates a potential downside of 34.12% from the company’s previous close.

LASR has been the subject of a number of other reports. Needham & Company LLC cut their target price on Nlight from $37.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Northcoast Research downgraded Nlight from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. Zacks Investment Research upgraded Nlight from a “sell” rating to a “hold” rating in a research report on Friday, August 31st. Stifel Nicolaus cut their target price on Nlight from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Monday, October 8th. Finally, Raymond James upgraded Nlight from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price for the company in a research report on Friday, September 21st. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $33.50.

LASR opened at $21.25 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.73 and a quick ratio of 4.69. Nlight has a 1-year low of $16.25 and a 1-year high of $43.63.

Nlight (NASDAQ:LASR) last released its earnings results on Monday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $51.03 million during the quarter, compared to analyst estimates of $49.20 million. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. Equities research analysts anticipate that Nlight will post 0.31 EPS for the current year.

In other news, major shareholder Mv Management Ix Llc sold 1,192,205 shares of the stock in a transaction on Tuesday, September 11th. The stock was sold at an average price of $25.44, for a total transaction of $30,329,695.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bandel L. Carano sold 1,109,417 shares of the stock in a transaction on Tuesday, September 11th. The shares were sold at an average price of $25.44, for a total value of $28,223,568.48. The disclosure for this sale can be found here. Insiders sold 2,481,622 shares of company stock valued at $63,132,464 over the last 90 days.

Large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Nlight during the 2nd quarter valued at $107,000. Bank of Montreal Can acquired a new stake in shares of Nlight during the 2nd quarter valued at $158,000. Rhumbline Advisers acquired a new stake in shares of Nlight during the 2nd quarter valued at $202,000. Essex Investment Management Co. LLC acquired a new stake in shares of Nlight during the 2nd quarter valued at $225,000. Finally, Carillon Tower Advisers Inc. acquired a new stake in shares of Nlight during the 2nd quarter valued at $317,000. Institutional investors own 47.10% of the company’s stock.

Nlight Company Profile

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications 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 North America, Asia, and Europe.

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