Clearbridge Investments LLC Acquires 29,631 Shares of nLIGHT, Inc. (NASDAQ:LASR)

Clearbridge Investments LLC grew its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,874,520 shares of the company’s stock after acquiring an additional 29,631 shares during the period. Clearbridge Investments LLC owned about 4.34% of nLIGHT worth $68,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Lazard Asset Management LLC bought a new position in nLIGHT during the 1st quarter valued at about $40,000. Acadian Asset Management LLC purchased a new stake in nLIGHT during the first quarter valued at approximately $46,000. Great West Life Assurance Co. Can raised its holdings in shares of nLIGHT by 38.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,548 shares of the company’s stock worth $82,000 after buying an additional 701 shares during the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of nLIGHT by 11.7% in the second quarter. Ameritas Investment Partners Inc. now owns 3,335 shares of the company’s stock worth $121,000 after buying an additional 350 shares during the last quarter. Finally, Caption Management LLC acquired a new stake in shares of nLIGHT in the first quarter worth $163,000. 88.93% of the stock is owned by hedge funds and other institutional investors.

LASR opened at $26.05 on Thursday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -51.08 and a beta of 2.41. The business has a 50 day moving average of $27.31 and a 200-day moving average of $29.65. nLIGHT, Inc. has a 12-month low of $20.84 and a 12-month high of $46.45.

nLIGHT (NASDAQ:LASR) last announced its earnings results on Thursday, August 5th. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08). The company had revenue of $69.11 million for the quarter, compared to analyst estimates 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, analysts forecast that nLIGHT, Inc. will post -0.44 earnings per share for the current year.

In related news, CFO Ran Bareket sold 16,288 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $24.54, for a total value of $399,707.52. Following the transaction, the chief financial officer now owns 181,228 shares in the company, valued at $4,447,335.12. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 4.80% of the company’s stock.

Several research firms have recently weighed in on LASR. Stifel Nicolaus assumed coverage on shares of nLIGHT in a research note on Monday, October 4th. They issued a “buy” rating and a $38.00 price target on the stock. TheStreet upgraded shares of nLIGHT from a “d+” rating to a “c-” rating in a research report on Tuesday, July 13th. Zacks Investment Research cut shares of nLIGHT from a “hold” rating to a “sell” rating in a research note on Saturday, August 7th. Finally, Needham & Company LLC lowered their price objective on shares of nLIGHT from $38.00 to $36.00 and set a “buy” rating on the stock in a research note on Friday, August 6th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $43.33.

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.

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Institutional Ownership by Quarter for nLIGHT (NASDAQ:LASR)

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