Massachusetts Financial Services Co. MA lessened its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 38.8% during the 1st quarter, Holdings Channel reports. The firm owned 538,715 shares of the company’s stock after selling 342,225 shares during the period. Massachusetts Financial Services Co. MA’s holdings in nLIGHT were worth $17,454,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Acadian Asset Management LLC acquired a new stake in nLIGHT in the first quarter valued at approximately $46,000. Aperio Group LLC acquired a new stake in nLIGHT in the fourth quarter valued at approximately $215,000. Citigroup Inc. raised its holdings in nLIGHT by 251.9% in the fourth quarter. Citigroup Inc. now owns 7,165 shares of the company’s stock valued at $234,000 after acquiring an additional 5,129 shares in the last quarter. Paloma Partners Management Co acquired a new stake in nLIGHT in the fourth quarter valued at approximately $241,000. Finally, ProShare Advisors LLC acquired a new stake in nLIGHT in the fourth quarter valued at approximately $255,000. 90.56% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Ran Bareket sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, April 12th. The shares were sold at an average price of $31.99, for a total transaction of $319,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.80% of the company’s stock.
nLIGHT (NASDAQ:LASR) last announced its earnings results on Thursday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.21. The business had revenue of $61.30 million for the quarter, compared to analyst estimates of $59.87 million. nLIGHT had a negative net margin of 8.14% and a negative return on equity of 7.07%. The company’s revenue for the quarter was up 41.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.08) earnings per share. As a group, equities research analysts anticipate that nLIGHT, Inc. will post -0.32 EPS for the current fiscal year.
Several analysts recently weighed in on LASR shares. Zacks Investment Research raised shares of nLIGHT from a “sell” rating to a “hold” rating in a report on Tuesday, April 20th. Needham & Company LLC reduced their target price on shares of nLIGHT from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, May 7th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. nLIGHT has an average rating of “Buy” and an average price target of $41.83.
nLIGHT, Inc designs, develops, manufactures, and sells semiconductor and fiber lasers for industrial, microfabrication, and aerospace and defense applications. The company operates in two segments, Laser Products and Advanced Development. It offers semiconductor laser chips, optical fiber in-house, and electrical-optical components.
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