Nlight (NASDAQ:LASR) had its price objective cut by Needham & Company LLC from $18.00 to $16.00 in a research report released on Tuesday, AnalystRatings.com reports. They currently have a buy rating on the stock.
Several other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded Nlight from a sell rating to a hold rating in a research note on Wednesday, October 9th. ValuEngine upgraded Nlight from a hold rating to a buy rating in a research note on Thursday, August 1st. Craig Hallum cut their target price on Nlight from $23.00 to $16.00 and set an in-line rating on the stock in a research note on Tuesday, August 6th. DA Davidson restated a buy rating and issued a $20.00 target price on shares of Nlight in a research note on Tuesday, August 6th. Finally, Canaccord Genuity cut their target price on Nlight from $28.00 to $18.00 and set an in-line rating on the stock in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Hold and an average target price of $17.43.
Shares of LASR opened at $16.57 on Tuesday. The stock has a 50 day simple moving average of $14.64 and a 200 day simple moving average of $17.33. Nlight has a 52-week low of $12.60 and a 52-week high of $26.77. The firm has a market capitalization of $599.99 million, a PE ratio of 51.78 and a beta of 2.11.
Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). Nlight had a net margin of 0.11% and a return on equity of 0.09%. The business had revenue of $43.80 million during the quarter, compared to analyst estimates of $43.92 million. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Nlight’s revenue for the quarter was down 14.1% compared to the same quarter last year. As a group, research analysts anticipate that Nlight will post -0.18 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LASR. Jennison Associates LLC bought a new stake in Nlight in the 2nd quarter valued at approximately $20,327,000. BlackRock Inc. raised its stake in shares of Nlight by 38.0% during the 2nd quarter. BlackRock Inc. now owns 1,673,158 shares of the company’s stock worth $32,124,000 after purchasing an additional 460,470 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Nlight by 21.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,919,560 shares of the company’s stock worth $30,061,000 after purchasing an additional 337,561 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Nlight by 13.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,296,198 shares of the company’s stock worth $42,411,000 after purchasing an additional 270,030 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in shares of Nlight by 12.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 1,800,362 shares of the company’s stock worth $34,567,000 after purchasing an additional 199,000 shares in the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.
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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