Needham Investment Management LLC Takes Position in Nlight Inc (LASR)

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Needham Investment Management LLC bought a new position in Nlight Inc (NASDAQ:LASR) in the second quarter, Holdings Channel reports. The institutional investor bought 11,893 shares of the company’s stock, valued at approximately $393,000.

A number of other hedge funds have also modified their holdings of LASR. Raymond James & Associates purchased a new position in Nlight in the second quarter worth $403,000. King Luther Capital Management Corp purchased a new position in Nlight in the second quarter worth $331,000. Senvest Management LLC purchased a new position in Nlight in the second quarter worth $512,000. Glen Harbor Capital Management LLC purchased a new position in Nlight in the second quarter worth $1,012,000. Finally, Stephens Investment Management Group LLC purchased a new position in Nlight in the second quarter worth $7,673,000. Institutional investors and hedge funds own 46.47% of the company’s stock.

Several research analysts have weighed in on LASR shares. DA Davidson started coverage on Nlight in a research report on Monday, May 21st. They issued a “buy” rating and a $40.00 price objective on the stock. Zacks Investment Research cut Nlight from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Needham & Company LLC assumed coverage on Nlight in a research note on Monday, May 21st. They issued a “buy” rating and a $34.00 target price on the stock. Raymond James assumed coverage on Nlight in a research note on Monday, May 21st. They issued an “outperform” rating and a $40.00 target price on the stock. Finally, Canaccord Genuity assumed coverage on Nlight in a research note on Monday, May 21st. They issued a “buy” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $40.00.

Shares of LASR opened at $27.41 on Friday. The company has a current ratio of 5.73, a quick ratio of 4.69 and a debt-to-equity ratio of 0.08. Nlight Inc has a 1 year low of $22.14 and a 1 year high of $43.63.

Nlight (NASDAQ:LASR) last issued its earnings results on Wednesday, August 8th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The firm had revenue of $51.70 million during the quarter, compared to the consensus estimate of $50.25 million. The business’s revenue was up 49.0% compared to the same quarter last year. research analysts anticipate that Nlight Inc will post 0.33 earnings per share for the current year.

About Nlight

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used in various end applications 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 North America, Asia, and Europe.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

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Institutional Ownership by Quarter for Nlight (NASDAQ:LASR)

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