Nlight Inc (LASR) Shares Sold by Principal Financial Group Inc.

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Principal Financial Group Inc. lowered its holdings in Nlight Inc (NASDAQ:LASR) by 17.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 187,700 shares of the company’s stock after selling 39,895 shares during the period. Principal Financial Group Inc.’s holdings in Nlight were worth $3,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Standard Life Aberdeen plc acquired a new stake in Nlight in the 4th quarter valued at approximately $1,142,000. Royce & Associates LP lifted its position in shares of Nlight by 65.0% in the 4th quarter. Royce & Associates LP now owns 1,432,621 shares of the company’s stock worth $25,472,000 after acquiring an additional 564,496 shares during the period. LPL Financial LLC bought a new stake in shares of Nlight in the 3rd quarter worth approximately $279,000. Motley Fool Wealth Management LLC lifted its position in shares of Nlight by 17.2% in the 4th quarter. Motley Fool Wealth Management LLC now owns 302,521 shares of the company’s stock worth $5,379,000 after acquiring an additional 44,399 shares during the period. Finally, Great West Life Assurance Co. Can bought a new stake in shares of Nlight in the 4th quarter worth approximately $81,000. 75.76% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nlight stock opened at $24.48 on Wednesday. Nlight Inc has a 12 month low of $16.25 and a 12 month high of $43.63. The firm has a market cap of $880.87 million and a P/E ratio of 76.50.

Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Wednesday, February 20th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.02. The business had revenue of $46.16 million during the quarter, compared to analysts’ expectations of $46.64 million. Nlight had a return on equity of 8.37% and a net margin of 7.28%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.04 earnings per share. Analysts anticipate that Nlight Inc will post 0.21 EPS for the current year.

LASR has been the subject of a number of research reports. Zacks Investment Research downgraded Nlight from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Craig Hallum initiated coverage on Nlight in a research report on Friday, February 8th. They issued a “hold” rating and a $20.00 price objective for the company. Finally, Northcoast Research reiterated a “hold” rating on shares of Nlight in a research report on Tuesday, January 29th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $28.50.

In other Nlight news, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $24.44, for a total transaction of $122,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott H. Keeney sold 13,500 shares of Nlight stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $22.01, for a total value of $297,135.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 251,309 shares of company stock worth $5,671,795.

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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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