Nlight (LASR) Coverage Initiated at UBS Group

Equities researchers at UBS Group started coverage on shares of Nlight (NASDAQ:LASR) in a report released on Friday, The Fly reports. The brokerage set a “neutral” rating on the stock.

A number of other research firms have also recently weighed in on LASR. Zacks Investment Research cut shares of Nlight from a “hold” rating to a “sell” rating in a research note on Wednesday, August 15th. Benchmark assumed coverage on shares of Nlight in a research note on Tuesday, August 28th. They issued a “sell” rating on the stock. DA Davidson dropped their price target on shares of Nlight to $30.00 and set a “buy” rating on the stock in a research note on Tuesday, November 6th. Raymond James upgraded shares of Nlight from an “outperform” rating to a “strong-buy” rating and set a $40.00 price target on the stock in a research note on Friday, September 21st. Finally, Stifel Nicolaus dropped their price target on shares of Nlight from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Monday, October 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $32.22.

LASR opened at $19.10 on Friday. The company has a quick ratio of 7.71, a current ratio of 9.12 and a debt-to-equity ratio of 0.08. Nlight has a twelve month low of $16.25 and a twelve month high of $43.63.

Nlight (NASDAQ:LASR) last released its earnings results on Monday, November 5th. The company reported $0.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. The firm had revenue of $51.03 million for the quarter, compared to analysts’ expectations of $49.20 million. Nlight had a net margin of 6.93% and a return on equity of 9.94%. Nlight’s revenue was up 39.6% on a year-over-year basis. Sell-side analysts anticipate that Nlight will post 0.33 earnings per share for the current year.

In related news, Director David D. Osborne sold 33,000 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $18.76, for a total transaction of $619,080.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bandel L. Carano sold 1,109,417 shares of the company’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $25.44, for a total transaction of $28,223,568.48. The disclosure for this sale can be found here. Insiders have sold a total of 2,515,244 shares of company stock worth $63,763,946 over the last 90 days.

Several hedge funds have recently made changes to their positions in LASR. Neuberger Berman Group LLC increased its holdings in Nlight by 408.7% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,248,103 shares of the company’s stock worth $27,720,000 after acquiring an additional 1,002,773 shares during the period. Clearbridge Investments LLC increased its holdings in Nlight by 592.3% during the 3rd quarter. Clearbridge Investments LLC now owns 1,238,871 shares of the company’s stock worth $27,515,000 after acquiring an additional 1,059,921 shares during the period. Royce & Associates LP increased its holdings in Nlight by 164.6% during the 3rd quarter. Royce & Associates LP now owns 868,125 shares of the company’s stock worth $19,281,000 after acquiring an additional 539,993 shares during the period. Vanguard Group Inc. increased its holdings in Nlight by 50.6% during the 3rd quarter. Vanguard Group Inc. now owns 847,755 shares of the company’s stock worth $18,829,000 after acquiring an additional 284,783 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Nlight by 24.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 835,004 shares of the company’s stock worth $18,545,000 after acquiring an additional 162,453 shares during the period. Institutional investors own 52.71% of the company’s stock.

Nlight Company Profile

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.

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