Stifel Financial Corp decreased its stake in shares of Nlight Inc (NASDAQ:LASR) by 44.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,885 shares of the company’s stock after selling 13,422 shares during the quarter. Stifel Financial Corp’s holdings in Nlight were worth $310,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of LASR. Quantamental Technologies LLC purchased a new position in shares of Nlight in the 4th quarter valued at about $34,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Nlight in the 4th quarter valued at about $38,000. Citigroup Inc. increased its holdings in shares of Nlight by 34.0% in the 4th quarter. Citigroup Inc. now owns 2,563 shares of the company’s stock valued at $46,000 after acquiring an additional 650 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Nlight by 55.3% in the 4th quarter. Advisor Group Inc. now owns 4,578 shares of the company’s stock valued at $81,000 after acquiring an additional 1,631 shares during the last quarter. Finally, Great West Life Assurance Co. Can purchased a new position in shares of Nlight in the 4th quarter valued at about $81,000. Institutional investors own 75.76% of the company’s stock.
In other Nlight news, insider Robert Martinsen sold 1,500 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $19.86, for a total transaction of $29,790.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Sixth Mdv Partners, L.L.C. sold 200,000 shares of the stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $22.95, for a total value of $4,590,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 251,309 shares of company stock valued at $5,671,795.
Shares of NASDAQ LASR opened at $24.48 on Wednesday. The stock has a market capitalization of $880.87 million and a P/E ratio of 76.50. Nlight Inc has a 52-week low of $16.25 and a 52-week high of $43.63.
Nlight (NASDAQ:LASR) last announced its earnings results on Wednesday, February 20th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02. The firm had revenue of $46.16 million during the quarter, compared to analysts’ expectations of $46.64 million. Nlight had a return on equity of 8.37% and a net margin of 7.28%. The business’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.04 EPS. Research analysts anticipate that Nlight Inc will post 0.21 earnings per share for the current year.
LASR has been the topic of a number of recent analyst reports. Northcoast Research reiterated a “hold” rating on shares of Nlight in a report on Tuesday, January 29th. Craig Hallum initiated coverage on Nlight in a research report on Friday, February 8th. They issued a “hold” rating and a $20.00 target price for the company. Finally, Zacks Investment Research cut Nlight from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Nlight currently has an average rating of “Hold” and a consensus target price of $28.50.
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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