Legato Capital Management LLC Purchases 17,580 Shares of nLight $LASR

Legato Capital Management LLC lifted its position in nLight (NASDAQ:LASR) by 84.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,475 shares of the company’s stock after acquiring an additional 17,580 shares during the quarter. Legato Capital Management LLC’s holdings in nLight were worth $1,443,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its position in nLight by 505.1% during the fourth quarter. Global Retirement Partners LLC now owns 10,069 shares of the company’s stock valued at $378,000 after buying an additional 8,405 shares during the period. ProShare Advisors LLC grew its position in nLight by 2.7% during the fourth quarter. ProShare Advisors LLC now owns 13,745 shares of the company’s stock valued at $516,000 after buying an additional 358 shares during the period. Bailard Inc. bought a new position in nLight during the fourth quarter valued at about $266,000. Wesbanco Bank Inc. bought a new position in nLight during the fourth quarter valued at about $375,000. Finally, SBI Securities Co. Ltd. grew its position in nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company’s stock valued at $46,000 after buying an additional 223 shares during the period. Institutional investors own 83.88% of the company’s stock.

nLight Stock Down 0.0%

Shares of NASDAQ:LASR opened at $78.54 on Monday. The firm has a market capitalization of $4.43 billion, a PE ratio of -261.79 and a beta of 2.34. nLight has a twelve month low of $13.45 and a twelve month high of $86.95. The company has a 50-day moving average price of $68.72 and a two-hundred day moving average price of $52.20.

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

Analyst Ratings Changes

LASR has been the subject of several research reports. Wall Street Zen upgraded shares of nLight from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Roth Mkm restated a “buy” rating and set a $81.00 price target on shares of nLight in a research report on Friday, April 24th. Robert W. Baird initiated coverage on shares of nLight in a research report on Wednesday, March 4th. They set an “outperform” rating and a $95.00 price target for the company. William Blair initiated coverage on shares of nLight in a research report on Friday, March 27th. They set an “outperform” rating for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of nLight in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Insider Transactions at nLight

In other nLight news, CFO Joseph John Corso sold 35,476 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40. Following the completion of the transaction, the chief financial officer owned 177,572 shares in the company, valued at $12,501,068.80. This trade represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 46,735 shares of the stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $68.48, for a total transaction of $3,200,412.80. Following the transaction, the chief executive officer owned 2,375,519 shares of the company’s stock, valued at $162,675,541.12. This represents a 1.93% decrease in their position. The SEC filing for this sale provides additional information. 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 405,487 shares of company stock valued at $27,566,119 in the last quarter. Company insiders own 3.10% of the company’s stock.

More nLight News

Here are the key news stories impacting nLight this week:

• Positive Sentiment: nLight’s recent quarterly results beat expectations, with EPS of $0.20 versus $0.08 expected and revenue of $80.18 million versus $72.14 million expected. Revenue also rose 55.2% year over year, reinforcing the view that business momentum remains strong.
• Positive Sentiment: Research coverage has stayed constructive, including reports highlighting nLight as a strong momentum stock and multiple bullish analyst ratings, which can help support investor confidence in LASR.
• Neutral Sentiment: Several executives, including CEO Scott H. Keeney, CFO Joseph John Corso, and CAO James Nias, sold shares recently. The filings say the trades were made under pre-arranged Rule 10b5-1 plans and to cover tax withholding on vested equity awards, which makes them less concerning than discretionary selling.
• Negative Sentiment: Even though the insider sales appear routine, the volume of selling from top executives may still weigh on sentiment in the short term as some investors interpret it as profit-taking after a sharp run-up in the share price.

nLight 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.