Stephens Investment Management Group LLC lowered its position in shares of nLight (NASDAQ:LASR – Free Report) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 760,729 shares of the company’s stock after selling 84,727 shares during the quarter. Stephens Investment Management Group LLC’s holdings in nLight were worth $28,535,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in nLight by 2.6% during the fourth quarter. Vanguard Group Inc. now owns 4,989,758 shares of the company’s stock valued at $187,166,000 after buying an additional 125,446 shares in the last quarter. Invesco Ltd. raised its stake in nLight by 377.2% during the third quarter. Invesco Ltd. now owns 1,057,281 shares of the company’s stock valued at $31,327,000 after buying an additional 835,720 shares in the last quarter. Portolan Capital Management LLC acquired a new stake in nLight during the third quarter valued at approximately $22,809,000. Arrowstreet Capital Limited Partnership raised its stake in nLight by 119.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 755,754 shares of the company’s stock valued at $22,393,000 after buying an additional 411,360 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in nLight by 537.8% during the third quarter. Marshall Wace LLP now owns 631,486 shares of the company’s stock valued at $18,711,000 after buying an additional 532,470 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.
nLight Price Performance
NASDAQ LASR opened at $75.61 on Monday. nLight has a 12 month low of $12.17 and a 12 month high of $86.95. The firm has a market capitalization of $4.27 billion, a PE ratio of -252.02 and a beta of 2.34. The company’s 50 day simple moving average is $67.63 and its 200 day simple moving average is $50.76.
Analyst Ratings Changes
Several analysts have issued reports on LASR shares. William Blair started coverage on nLight in a research note on Friday, March 27th. They set an “outperform” rating on the stock. Roth Mkm restated a “buy” rating and set a $81.00 price objective on shares of nLight in a research note on Friday, April 24th. Raymond James Financial restated a “strong-buy” rating and set a $100.00 price objective on shares of nLight in a research note on Friday, May 8th. Robert W. Baird initiated coverage on nLight in a research report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price target on the stock. Finally, Needham & Company LLC increased their price target on nLight from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.81.
Get Our Latest Stock Analysis on LASR
Insider Transactions at nLight
In other nLight news, Director Raymond A. Link sold 10,000 shares of the stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $62.79, for a total transaction of $627,900.00. Following the completion of the transaction, the director directly owned 92,576 shares of the company’s stock, valued at approximately $5,812,847.04. This trade represents a 9.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph John Corso sold 13,038 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $61.96, for a total value of $807,834.48. Following the transaction, the chief financial officer directly owned 183,186 shares of the company’s stock, valued at approximately $11,350,204.56. The trade was a 6.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 130,780 shares of company stock valued at $8,032,729. Company insiders own 3.10% of the company’s stock.
About nLight
nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.
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