Nlight (NASDAQ:LASR) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Nlight (NASDAQ:LASR) from a sell rating to a hold rating in a report issued on Saturday morning, Zacks.com reports.

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 equities analysts also recently issued research reports about the stock. Needham & Company LLC reduced their price objective on shares of Nlight to $21.00 and set a buy rating for the company in a research note on Wednesday, July 17th. ValuEngine raised shares of Nlight from a hold rating to a buy rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $25.13.

Nlight stock opened at $14.43 on Friday. The company’s 50 day moving average is $17.33. Nlight has a fifty-two week low of $14.36 and a fifty-two week high of $35.73. The company has a market capitalization of $566.55 million, a P/E ratio of 45.09, a PEG ratio of 5.83 and a beta of 2.00.

Nlight (NASDAQ:LASR) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). Nlight had a net margin of 5.13% and a return on equity of 4.77%. The company had revenue of $48.05 million for the quarter, compared to the consensus estimate of $47.79 million. During the same period in the prior year, the firm posted $0.14 EPS. The business’s revenue was down 7.1% on a year-over-year basis. As a group, equities research analysts forecast that Nlight will post 0.09 earnings per share for the current year.

In other Nlight news, insider Scott H. Keeney sold 4,935 shares of Nlight stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.11, for a total value of $114,047.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $25.07, for a total transaction of $125,350.00. The disclosure for this sale can be found here. Insiders sold 17,370 shares of company stock valued at $388,287 in the last three months. 5.80% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASR. JPMorgan Chase & Co. grew its holdings in Nlight by 1,201.0% in the first quarter. JPMorgan Chase & Co. now owns 2,026,168 shares of the company’s stock worth $45,143,000 after purchasing an additional 1,870,434 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Nlight by 188.7% during the fourth quarter. BlackRock Inc. now owns 1,161,739 shares of the company’s stock valued at $20,656,000 after buying an additional 759,305 shares during the last quarter. Royce & Associates LP grew its holdings in shares of Nlight by 39.1% during the first quarter. Royce & Associates LP now owns 1,992,080 shares of the company’s stock valued at $44,384,000 after buying an additional 559,459 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in shares of Nlight by 15.2% during the first quarter. Neuberger Berman Group LLC now owns 1,514,518 shares of the company’s stock valued at $33,743,000 after buying an additional 199,275 shares during the last quarter. Finally, AlpInvest Partners B.V. purchased a new stake in shares of Nlight during the first quarter valued at $3,858,000. 77.58% of the stock is currently owned by institutional investors and hedge funds.

About Nlight

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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