Stephens Investment Management Group LLC Boosts Stock Holdings in Nlight Inc (NASDAQ:LASR)

Stephens Investment Management Group LLC raised its holdings in shares of Nlight Inc (NASDAQ:LASR) by 3.4% during the second quarter, HoldingsChannel reports. The firm owned 527,135 shares of the company’s stock after purchasing an additional 17,493 shares during the period. Stephens Investment Management Group LLC’s holdings in Nlight were worth $10,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LASR. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Nlight by 112.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock valued at $51,000 after purchasing an additional 1,214 shares during the period. Meridian Wealth Management LLC purchased a new position in Nlight during the 1st quarter valued at about $52,000. Optimum Investment Advisors purchased a new position in Nlight during the 1st quarter valued at about $58,000. Legal & General Group Plc increased its position in Nlight by 302.6% during the 4th quarter. Legal & General Group Plc now owns 4,119 shares of the company’s stock valued at $73,000 after purchasing an additional 3,096 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its position in Nlight by 81.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,902 shares of the company’s stock valued at $87,000 after purchasing an additional 1,757 shares during the period. 78.78% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have commented on LASR. DA Davidson reissued a “buy” rating and set a $20.00 target price on shares of Nlight in a research report on Tuesday, August 6th. Craig Hallum cut their price objective on shares of Nlight from $23.00 to $16.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 6th. Zacks Investment Research raised shares of Nlight from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. ValuEngine raised shares of Nlight from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $19.00 price objective (down previously from $21.00) on shares of Nlight in a research report on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Nlight currently has a consensus rating of “Hold” and a consensus target price of $22.56.

Shares of Nlight stock traded up $0.31 on Friday, reaching $14.23. The stock had a trading volume of 3,164 shares, compared to its average volume of 516,878. The company has a 50 day moving average price of $16.46 and a 200 day moving average price of $20.38. Nlight Inc has a 1 year low of $13.56 and a 1 year high of $35.73. The stock has a market capitalization of $559.66 million, a P/E ratio of 44.50 and a beta of 2.00.

Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Nlight had a return on equity of 2.28% and a net margin of 2.66%. The firm had revenue of $48.05 million during the quarter, compared to analysts’ expectations of $47.79 million. During the same period in the previous year, the firm earned $0.14 EPS. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, equities research analysts anticipate that Nlight Inc will post -0.18 earnings per share for the current year.

In related news, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.00, for a total value of $100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Martinsen sold 1,500 shares of Nlight stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.04, for a total transaction of $30,060.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,000 shares of company stock worth $139,250. Insiders own 5.80% of the company’s stock.

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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Institutional Ownership by Quarter for Nlight (NASDAQ:LASR)

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