Nlight Inc (LASR) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its stake in Nlight Inc (NASDAQ:LASR) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,900 shares of the company’s stock after selling 10,100 shares during the quarter. Primecap Management Co. CA owned about 0.69% of Nlight worth $5,328,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in LASR. Russell Investments Group Ltd. bought a new position in Nlight in the 2nd quarter valued at about $107,000. Bank of Montreal Can bought a new position in Nlight in the 2nd quarter valued at about $158,000. Rhumbline Advisers bought a new position in Nlight in the 2nd quarter valued at about $202,000. D.A. Davidson & CO. bought a new position in Nlight in the 3rd quarter valued at about $288,000. Finally, Carillon Tower Advisers Inc. bought a new position in Nlight in the 2nd quarter valued at about $317,000. 57.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:LASR opened at $19.95 on Tuesday. Nlight Inc has a 12-month low of $16.25 and a 12-month high of $43.63. 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 (NASDAQ:LASR) last announced its earnings results on Monday, November 5th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. Nlight had a net margin of 6.93% and a return on equity of 9.94%. The firm had revenue of $51.03 million for the quarter, compared to analyst estimates of $49.20 million. The company’s revenue was up 39.6% on a year-over-year basis. Research analysts expect that Nlight Inc will post 0.33 earnings per share for the current year.

Several research firms have weighed in on LASR. Benchmark started coverage on shares of Nlight in a report on Tuesday, August 28th. They issued a “sell” rating on the stock. Zacks Investment Research upgraded shares of Nlight from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. Northcoast Research lowered shares of Nlight from a “buy” rating to a “neutral” rating in a research report on Monday, October 8th. DA Davidson decreased their target price on shares of Nlight to $30.00 and set a “buy” rating on the stock in a research report on Tuesday, November 6th. Finally, Raymond James upgraded shares of Nlight from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research report on Friday, September 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Nlight presently has a consensus rating of “Buy” and a consensus target price of $32.22.

In related news, insider Scott H. Keeney sold 180,000 shares of the 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 $4,579,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Bandel L. Carano sold 1,109,417 shares of the stock in a transaction that occurred on Tuesday, September 11th. The stock was 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 in the last quarter.

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Nlight 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.

Further Reading: Stock Split

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Institutional Ownership by Quarter for Nlight (NASDAQ:LASR)

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