Wells Fargo & Company MN Sells 4,886 Shares of Nlight Inc (NASDAQ:LASR)

Wells Fargo & Company MN lowered its position in Nlight Inc (NASDAQ:LASR) by 1.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 373,425 shares of the company’s stock after selling 4,886 shares during the period. Wells Fargo & Company MN owned about 1.01% of Nlight worth $7,169,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its holdings in shares of Nlight by 1,201.0% in the 1st quarter. JPMorgan Chase & Co. now owns 2,026,168 shares of the company’s stock valued at $45,143,000 after acquiring an additional 1,870,434 shares during the last quarter. Jennison Associates LLC bought a new position in shares of Nlight in the 2nd quarter valued at about $20,327,000. Royce & Associates LP lifted its holdings in shares of Nlight by 39.1% in the 1st quarter. Royce & Associates LP now owns 1,992,080 shares of the company’s stock valued at $44,384,000 after acquiring an additional 559,459 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in shares of Nlight by 15.2% in the 1st quarter. Neuberger Berman Group LLC now owns 1,514,518 shares of the company’s stock valued at $33,743,000 after acquiring an additional 199,275 shares during the last quarter. Finally, AlpInvest Partners B.V. bought a new position in shares of Nlight in the 1st quarter valued at about $3,858,000. 82.20% of the stock is owned by institutional investors.

A number of analysts recently weighed in on LASR shares. Craig Hallum reduced their price objective on shares of Nlight from $23.00 to $16.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 target price (down from $21.00) on shares of Nlight in a research report on Tuesday, August 6th. Canaccord Genuity reduced their target price on shares of Nlight from $28.00 to $18.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 6th. DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Nlight in a research report on Tuesday, August 6th. Finally, ValuEngine raised shares of Nlight from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Nlight has an average rating of “Hold” and an average target price of $22.56.

Shares of NASDAQ:LASR traded down $0.02 during trading on Friday, reaching $16.44. 213,402 shares of the company were exchanged, compared to its average volume of 318,967. The firm has a market capitalization of $620.34 million, a PE ratio of 126.61 and a beta of 2.11. The business’s fifty day simple moving average is $14.69 and its 200-day simple moving average is $19.50. Nlight Inc has a 12-month low of $12.60 and a 12-month high of $27.66.

Nlight (NASDAQ:LASR) last issued its earnings results on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.01). The company had revenue of $48.05 million for the quarter, compared to analysts’ expectations of $47.79 million. Nlight had a return on equity of 2.28% and a net margin of 2.66%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business posted $0.14 earnings per share. On average, sell-side analysts expect that Nlight Inc will post -0.18 EPS for the current fiscal year.

In related news, insider Robert Martinsen sold 1,500 shares of Nlight stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.04, for a total transaction of $30,060.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. The disclosure for this sale can be found here. Company insiders own 5.80% of the company’s stock.

Nlight 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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