Equities research analysts expect that Nlight Inc (NASDAQ:LASR) will report sales of $43.96 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Nlight’s earnings, with the lowest sales estimate coming in at $43.50 million and the highest estimate coming in at $44.28 million. Nlight reported sales of $51.03 million in the same quarter last year, which would suggest a negative year over year growth rate of 13.9%. The company is expected to report its next quarterly earnings report on Monday, November 4th.
On average, analysts expect that Nlight will report full-year sales of $181.29 million for the current fiscal year, with estimates ranging from $175.10 million to $194.90 million. For the next year, analysts expect that the business will post sales of $209.16 million, with estimates ranging from $189.00 million to $240.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Nlight.
Nlight (NASDAQ:LASR) last issued its earnings results on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). Nlight had a return on equity of 2.28% and a net margin of 2.66%. The firm had revenue of $48.05 million for the quarter, compared to analysts’ expectations of $47.79 million. During the same period last year, the firm earned $0.14 earnings per share. Nlight’s revenue for the quarter was down 7.1% on a year-over-year basis.
LASR has been the topic of a number of analyst reports. 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 note on Tuesday, August 6th. DA Davidson reaffirmed a “buy” rating and set a $20.00 target price on shares of Nlight in a research note 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 note on Tuesday, August 6th. Zacks Investment Research raised shares of Nlight from a “sell” rating to a “hold” rating in a research note on Thursday, August 22nd. Finally, ValuEngine raised shares of Nlight from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Nlight presently has a consensus rating of “Hold” and a consensus target price of $20.38.
In other news, CFO Ran Bareket sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $20.00, for a total value of $100,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Martinsen sold 1,500 shares of the business’s 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 disclosure for this sale can be found here. 5.80% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in LASR. JPMorgan Chase & Co. grew its holdings in shares of Nlight by 1,201.0% in the first quarter. JPMorgan Chase & Co. now owns 2,026,168 shares of the company’s stock valued at $45,143,000 after purchasing an additional 1,870,434 shares in the last quarter. Jennison Associates LLC acquired a new position in Nlight during the 2nd quarter worth approximately $20,327,000. Royce & Associates LP grew its holdings in Nlight by 39.1% during the 1st quarter. Royce & Associates LP now owns 1,992,080 shares of the company’s stock worth $44,384,000 after acquiring an additional 559,459 shares in the last quarter. BlackRock Inc. grew its holdings in Nlight by 38.0% during the 2nd quarter. BlackRock Inc. now owns 1,673,158 shares of the company’s stock worth $32,124,000 after acquiring an additional 460,470 shares in the last quarter. Finally, Neuberger Berman Group LLC grew its holdings in Nlight by 15.2% during the 1st quarter. Neuberger Berman Group LLC now owns 1,514,518 shares of the company’s stock worth $33,743,000 after acquiring an additional 199,275 shares in the last quarter. Hedge funds and other institutional investors own 82.20% of the company’s stock.
LASR stock traded down $0.22 during trading on Thursday, reaching $15.81. 588,767 shares of the stock were exchanged, compared to its average volume of 320,857. The business has a 50 day moving average price of $14.59 and a 200-day moving average price of $19.31. Nlight has a 1 year low of $12.60 and a 1 year high of $27.66. The firm has a market capitalization of $604.14 million, a price-to-earnings ratio of 49.41 and a beta of 2.11.
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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