Clearbridge Investments LLC Has $22.21 Million Stock Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Clearbridge Investments LLC decreased its position in shares of nLIGHT, Inc. (NASDAQ:LASR) by 9.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,644,789 shares of the company’s stock after selling 177,987 shares during the quarter. Clearbridge Investments LLC owned approximately 3.52% of nLIGHT worth $22,205,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in nLIGHT by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 4,995,388 shares of the company’s stock worth $51,952,000 after buying an additional 58,689 shares in the last quarter. Pinnacle Associates Ltd. lifted its holdings in nLIGHT by 18.0% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,693,821 shares of the company’s stock worth $22,867,000 after buying an additional 258,199 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in nLIGHT by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,720 shares of the company’s stock worth $4,829,000 after buying an additional 7,660 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in nLIGHT by 1,251.2% during the 3rd quarter. Acadian Asset Management LLC now owns 250,373 shares of the company’s stock worth $2,601,000 after buying an additional 231,844 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in nLIGHT by 21.5% during the 3rd quarter. Raymond James & Associates now owns 170,234 shares of the company’s stock worth $1,770,000 after buying an additional 30,135 shares in the last quarter. Institutional investors and hedge funds own 83.88% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LASR shares. Benchmark reissued a “speculative buy” rating and issued a $17.00 price target on shares of nLIGHT in a research note on Friday, May 3rd. Needham & Company LLC cut their price target on nLIGHT from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd.

nLIGHT Price Performance

LASR stock opened at $13.04 on Friday. The business’s fifty day moving average is $12.30 and its 200-day moving average is $12.70. nLIGHT, Inc. has a twelve month low of $8.13 and a twelve month high of $15.91.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.30) by $0.01. The business had revenue of $44.53 million for the quarter, compared to the consensus estimate of $44.35 million. nLIGHT had a negative return on equity of 17.86% and a negative net margin of 23.81%. On average, equities research analysts forecast that nLIGHT, Inc. will post -0.89 EPS for the current year.

Insider Buying and Selling

In related news, CFO Joseph John Corso sold 14,105 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $12.26, for a total transaction of $172,927.30. Following the sale, the chief financial officer now owns 146,601 shares of the company’s stock, valued at approximately $1,797,328.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other nLIGHT news, CFO Joseph John Corso sold 14,105 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $12.26, for a total transaction of $172,927.30. Following the completion of the transaction, the chief financial officer now owns 146,601 shares in the company, valued at approximately $1,797,328.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Geoffrey Moore sold 38,796 shares of the stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $13.14, for a total value of $509,779.44. Following the transaction, the director now owns 71,186 shares of the company’s stock, valued at approximately $935,384.04. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

nLIGHT Profile

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 lasers with various ranges of power levels, wavelengths, and output fiber sizes; and programmable and serviceable fiber lasers for use in industrial and aerospace and defense applications.