Victory Capital Management Inc. Takes $213,000 Position in nLIGHT, Inc. (NASDAQ:LASR)

Victory Capital Management Inc. bought a new position in nLIGHT, Inc. (NASDAQ:LASR) in the second quarter, according to its most recent filing with the SEC. The firm bought 5,868 shares of the company’s stock, valued at approximately $213,000.

A number of other hedge funds also recently added to or reduced their stakes in LASR. Wasatch Advisors Inc. boosted its stake in nLIGHT by 43.8% in the 1st quarter. Wasatch Advisors Inc. now owns 5,693,931 shares of the company’s stock worth $184,483,000 after purchasing an additional 1,734,470 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in nLIGHT by 40.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,665,539 shares of the company’s stock valued at $53,963,000 after acquiring an additional 482,835 shares during the period. Redwood Investments LLC acquired a new stake in nLIGHT during the 2nd quarter valued at approximately $11,255,000. AWM Investment Company Inc. acquired a new stake in nLIGHT during the 1st quarter valued at approximately $8,424,000. Finally, Jennison Associates LLC lifted its stake in nLIGHT by 20.9% during the 1st quarter. Jennison Associates LLC now owns 1,413,050 shares of the company’s stock valued at $45,783,000 after acquiring an additional 244,459 shares during the period. Institutional investors own 88.93% of the company’s stock.

In related news, CFO Ran Bareket sold 16,288 shares of the business’s stock in a transaction on Wednesday, August 18th. The shares were sold at an average price of $24.54, for a total value of $399,707.52. Following the completion of the sale, the chief financial officer now owns 181,228 shares of the company’s stock, valued at approximately $4,447,335.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.80% of the stock is currently owned by insiders.

Several analysts have commented on LASR shares. TheStreet upgraded shares of nLIGHT from a “d+” rating to a “c-” rating in a research note on Tuesday, July 13th. Needham & Company LLC cut their target price on shares of nLIGHT from $38.00 to $36.00 and set a “buy” rating for the company in a report on Friday, August 6th. Finally, Zacks Investment Research lowered shares of nLIGHT from a “hold” rating to a “sell” rating in a report on Saturday, August 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $44.40.

Shares of NASDAQ LASR opened at $26.97 on Tuesday. The firm has a market cap of $1.17 billion, a PE ratio of -52.88 and a beta of 2.50. The firm has a fifty day moving average of $29.33 and a 200 day moving average of $30.49. nLIGHT, Inc. has a one year low of $20.84 and a one year high of $46.45.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings results on Thursday, August 5th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.08). The company had revenue of $69.11 million during the quarter, compared to analysts’ expectations of $66.43 million. nLIGHT had a negative return on equity of 6.82% and a negative net margin of 8.01%. As a group, research analysts predict that nLIGHT, Inc. will post -0.42 EPS for the current fiscal year.

nLIGHT Profile

nLIGHT, Inc develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. It operates through the following segments: Laser Products and Advanced Development. The Laser Products segment includes products such as fiber lasers, diodes, complete laser systems and components.

Further Reading: Understanding dividend yield and dividend payout ratio

Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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