Polen Capital Management LLC Has $2.31 Million Position in nLight $LASR

Polen Capital Management LLC boosted its holdings in nLight (NASDAQ:LASR) by 18.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,624 shares of the company’s stock after buying an additional 9,806 shares during the period. Polen Capital Management LLC owned approximately 0.12% of nLight worth $2,312,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Osaic Holdings Inc. raised its holdings in nLight by 1,599.1% in the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company’s stock worth $36,000 after purchasing an additional 1,727 shares during the period. EverSource Wealth Advisors LLC raised its holdings in nLight by 155.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,062 shares of the company’s stock worth $40,000 after purchasing an additional 647 shares during the period. Financial Consulate Inc. acquired a new stake in nLight in the fourth quarter worth $41,000. Wexford Capital LP acquired a new stake in nLight in the third quarter worth $41,000. Finally, SBI Securities Co. Ltd. raised its holdings in nLight by 22.3% in the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock worth $46,000 after purchasing an additional 223 shares during the period. 83.88% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on LASR. Roth Mkm reiterated a “buy” rating and issued a $81.00 target price on shares of nLight in a report on Friday, April 24th. William Blair began coverage on shares of nLight in a report on Friday, March 27th. They issued an “outperform” rating on the stock. Cantor Fitzgerald increased their target price on shares of nLight from $40.00 to $62.50 and gave the stock an “overweight” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of nLight in a report on Tuesday, April 21st. Finally, Robert W. Baird began coverage on shares of nLight in a report on Wednesday, March 4th. They issued an “outperform” rating and a $95.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, nLight currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Insider Buying and Selling

In related news, CFO Joseph John Corso sold 3,817 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $72.90, for a total transaction of $278,259.30. Following the sale, the chief financial officer directly owned 169,915 shares in the company, valued at $12,386,803.50. This trade represents a 2.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Scott H. Keeney sold 16,089 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $74.60, for a total transaction of $1,200,239.40. Following the sale, the chief executive officer owned 2,185,039 shares in the company, valued at approximately $163,003,909.40. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 391,038 shares of company stock worth $28,367,419 over the last ninety days. Company insiders own 3.10% of the company’s stock.

nLight Stock Up 11.9%

Shares of NASDAQ:LASR opened at $70.19 on Friday. nLight has a 12 month low of $16.87 and a 12 month high of $86.95. The company’s fifty day simple moving average is $70.70 and its 200 day simple moving average is $56.31. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of -233.96 and a beta of 2.31.

nLight (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The business had revenue of $80.18 million for the quarter, compared to analyst estimates of $72.14 million. During the same period last year, the business posted ($0.04) earnings per share. The firm’s quarterly revenue was up 55.2% on a year-over-year basis. Research analysts expect that nLight will post -0.17 earnings per share for the current fiscal year.

nLight Company Profile

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.