According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber laser. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “
Other analysts have also recently issued research reports about the stock. DA Davidson reiterated a buy rating and issued a $20.00 price objective on shares of Nlight in a research note on Tuesday, August 6th. Canaccord Genuity reduced their price objective on shares of Nlight from $28.00 to $18.00 and set an in-line rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reiterated a buy rating and issued a $19.00 price objective (down previously from $21.00) on shares of Nlight in a research note on Tuesday, August 6th. Craig Hallum reduced their price objective on shares of Nlight from $23.00 to $16.00 and set an in-line rating for the company in a research note on Tuesday, August 6th. Finally, ValuEngine upgraded shares of Nlight from a hold rating to a buy rating in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Hold and an average target price of $22.56.
Shares of NASDAQ:LASR opened at $13.65 on Thursday. The company has a market cap of $540.82 million, a price-to-earnings ratio of 110.39 and a beta of 2.00. The firm’s 50-day simple moving average is $15.67 and its 200-day simple moving average is $20.15. Nlight has a fifty-two week low of $13.56 and a fifty-two week high of $32.29.
Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Nlight had a net margin of 2.66% and a return on equity of 2.28%. The company had revenue of $48.05 million during the quarter, compared to analyst estimates of $47.79 million. During the same quarter last year, the business earned $0.14 EPS. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. As a group, sell-side analysts forecast that Nlight will post -0.18 earnings per share for the current fiscal year.
In related news, insider Robert Martinsen sold 1,500 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.04, for a total value of $30,060.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $20.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. Insiders sold 7,000 shares of company stock valued at $139,250 in the last quarter. Company insiders own 5.80% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LASR. JPMorgan Chase & Co. raised its position in Nlight by 1,201.0% during the first quarter. JPMorgan Chase & Co. now owns 2,026,168 shares of the company’s stock worth $45,143,000 after acquiring an additional 1,870,434 shares during the last quarter. Jennison Associates LLC acquired a new position in Nlight during the second quarter worth about $20,327,000. Royce & Associates LP raised its position in Nlight by 39.1% during the first quarter. Royce & Associates LP now owns 1,992,080 shares of the company’s stock worth $44,384,000 after acquiring an additional 559,459 shares during the last quarter. BlackRock Inc. raised its position in Nlight by 38.0% during the second quarter. BlackRock Inc. now owns 1,673,158 shares of the company’s stock worth $32,124,000 after acquiring an additional 460,470 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in Nlight by 15.2% during the first quarter. Neuberger Berman Group LLC now owns 1,514,518 shares of the company’s stock worth $33,743,000 after acquiring an additional 199,275 shares during the last quarter. Institutional investors own 80.41% of the company’s stock.
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.
Read More: What is the Producer Price Index (PPI)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Nlight Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nlight and related companies with MarketBeat.com's FREE daily email newsletter.