Craig Hallum Trims Nlight (NASDAQ:LASR) Target Price to $16.00

Nlight (NASDAQ:LASR) had its price target trimmed by Craig Hallum from $23.00 to $16.00 in a research report sent to investors on Tuesday, The Fly reports. The brokerage currently has an in-line rating on the stock.

LASR has been the subject of several other reports. ValuEngine upgraded shares of Nlight from a hold rating to a buy rating in a report on Thursday, August 1st. Canaccord Genuity lowered their price target on shares of Nlight from $28.00 to $18.00 and set an in-line rating for the company in a report on Tuesday. Needham & Company LLC reiterated a buy rating and set a $19.00 price target (down from $21.00) on shares of Nlight in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of Nlight from a sell rating to a hold rating in a report on Saturday, August 3rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $22.56.

Shares of LASR stock opened at $14.60 on Tuesday. The company has a market capitalization of $540.35 million, a PE ratio of 45.63, a P/E/G ratio of 5.55 and a beta of 2.00. The company has a 50 day moving average of $16.97. Nlight has a 1 year low of $13.56 and a 1 year high of $35.73.

Nlight (NASDAQ:LASR) last released its earnings results on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). The business had revenue of $48.05 million for the quarter, compared to the consensus estimate of $47.79 million. Nlight had a return on equity of 2.30% and a net margin of 2.66%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.14 earnings per share. As a group, research analysts expect that Nlight will post -0.13 EPS for the current year.

In other news, insider Scott H. Keeney sold 4,935 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $23.11, for a total transaction of $114,047.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Martinsen sold 1,500 shares of the business’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $20.04, for a total transaction of $30,060.00. The disclosure for this sale can be found here. Insiders sold a total of 12,370 shares of company stock valued at $262,937 over the last quarter. 5.80% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Isthmus Partners LLC purchased a new position in shares of Nlight during the 2nd quarter valued at $565,000. Charles Schwab Investment Management Inc. grew its position in shares of Nlight by 32.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 90,886 shares of the company’s stock valued at $1,746,000 after purchasing an additional 22,016 shares in the last quarter. Jennison Associates LLC purchased a new position in shares of Nlight during the 2nd quarter valued at $20,327,000. Atria Investments LLC purchased a new position in shares of Nlight during the 2nd quarter valued at $335,000. Finally, Bank of Montreal Can purchased a new position in shares of Nlight during the 2nd quarter valued at $52,000. Hedge funds and other institutional investors own 77.58% of the company’s stock.

About Nlight

nLIGHT, Inc designs, develops, and manufactures semiconductor and fiber lasers used 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 Asia and Europe.

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