Motley Fool Asset Management LLC Reduces Position in Nlight Inc (LASR)

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Motley Fool Asset Management LLC lessened its holdings in shares of Nlight Inc (NASDAQ:LASR) by 0.2% in the 1st quarter, HoldingsChannel reports. The fund owned 382,023 shares of the company’s stock after selling 740 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Nlight were worth $8,511,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in LASR. Raymond James & Associates boosted its holdings in Nlight by 30.0% in the 1st quarter. Raymond James & Associates now owns 43,818 shares of the company’s stock valued at $976,000 after purchasing an additional 10,100 shares during the last quarter. Optimum Investment Advisors acquired a new position in Nlight in the 1st quarter valued at about $58,000. Stephens Investment Management Group LLC boosted its holdings in Nlight by 21.2% in the 1st quarter. Stephens Investment Management Group LLC now owns 509,642 shares of the company’s stock valued at $11,355,000 after purchasing an additional 89,026 shares during the last quarter. California Public Employees Retirement System acquired a new position in Nlight in the 1st quarter valued at about $978,000. Finally, Kornitzer Capital Management Inc. KS boosted its holdings in Nlight by 100.0% in the 1st quarter. Kornitzer Capital Management Inc. KS now owns 40,000 shares of the company’s stock valued at $891,000 after purchasing an additional 20,000 shares during the last quarter. 80.97% of the stock is owned by institutional investors.

Several equities analysts have weighed in on the stock. Zacks Investment Research lowered shares of Nlight from a “hold” rating to a “sell” rating in a report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 target price (down from $27.00) on shares of Nlight in a report on Thursday, May 9th. Craig Hallum assumed coverage on shares of Nlight in a report on Friday, February 8th. They issued a “hold” rating and a $20.00 target price on the stock. Finally, Northcoast Research reiterated a “hold” rating on shares of Nlight in a report on Tuesday, January 29th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $28.40.

In other Nlight news, insider Scott H. Keeney sold 13,500 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $22.01, for a total transaction of $297,135.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Ran Bareket sold 5,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $20.53, for a total transaction of $102,650.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 242,000 shares of company stock worth $5,569,925.

Shares of LASR stock opened at $22.16 on Friday. Nlight Inc has a one year low of $16.25 and a one year high of $43.63. The company has a market capitalization of $820.14 million and a PE ratio of 69.25.

Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. Nlight had a net margin of 5.13% and a return on equity of 4.77%. The firm had revenue of $41.86 million for the quarter, compared to analyst estimates of $42.47 million. During the same period in the prior year, the business posted $0.10 EPS. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Research analysts anticipate that Nlight Inc will post 0.14 earnings per share for the current year.

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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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Want to see what other hedge funds are holding LASR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Nlight Inc (NASDAQ:LASR).

Institutional Ownership by Quarter for Nlight (NASDAQ:LASR)

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