Nlight (LASR) Issues Earnings Results

Nlight (NASDAQ:LASR) posted its earnings results on Wednesday. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.02, Bloomberg Earnings reports. Nlight had a return on equity of 9.33% and a net margin of 7.28%. The firm had revenue of $46.16 million during the quarter, compared to analysts’ expectations of $46.64 million. During the same period in the previous year, the firm earned $0.04 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. Nlight updated its Q1 2019 guidance to EPS.

LASR stock opened at $21.31 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. The stock has a market cap of $779.31 million and a PE ratio of 66.59. Nlight has a fifty-two week low of $16.25 and a fifty-two week high of $43.63.

In related news, CFO Ran Bareket sold 5,000 shares of the stock in a transaction that occurred on Tuesday, February 12th. The stock was sold at an average price of $20.19, for a total transaction of $100,950.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Martinsen sold 1,500 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $19.86, for a total value of $29,790.00. The disclosure for this sale can be found here. Insiders have sold 28,687 shares of company stock valued at $573,487 over the last ninety days.

A number of hedge funds and other institutional investors have recently modified their holdings of LASR. BlackRock Inc. acquired a new position in Nlight during the second quarter valued at approximately $13,077,000. Raymond James & Associates bought a new stake in Nlight in the second quarter valued at approximately $403,000. Millennium Management LLC bought a new stake in Nlight in the second quarter valued at approximately $600,000. Bank of New York Mellon Corp bought a new stake in Nlight in the second quarter valued at approximately $22,235,000. Finally, Northern Trust Corp bought a new stake in Nlight in the second quarter valued at approximately $2,857,000. 70.97% of the stock is owned by hedge funds and other institutional investors.

LASR has been the subject of a number of research analyst reports. Needham & Company LLC decreased their target price on Nlight from $29.00 to $27.00 and set a “buy” rating for the company in a research note on Monday, December 10th. Zacks Investment Research raised Nlight from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Saturday, December 8th. DA Davidson reduced their price objective on Nlight to $30.00 and set a “buy” rating for the company in a research report on Tuesday, November 6th. Craig Hallum began coverage on Nlight in a research report on Friday, February 8th. They set a “hold” rating and a $20.00 price objective for the company. Finally, Northcoast Research reaffirmed a “hold” rating on shares of Nlight in a research report on Tuesday, January 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $28.50.

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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.

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