Lazard Asset Management LLC Makes New $1.85 Million Investment in nLight $LASR

Lazard Asset Management LLC acquired a new stake in shares of nLight (NASDAQ:LASR) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 32,392 shares of the company’s stock, valued at approximately $1,847,000. Lazard Asset Management LLC owned approximately 0.06% of nLight at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Artisan Partners Limited Partnership acquired a new stake in shares of nLight during the fourth quarter valued at approximately $41,315,000. Invesco Ltd. grew its position in nLight by 377.2% during the 3rd quarter. Invesco Ltd. now owns 1,057,281 shares of the company’s stock worth $31,327,000 after purchasing an additional 835,720 shares in the last quarter. Marshall Wace LLP grew its position in nLight by 537.8% during the 3rd quarter. Marshall Wace LLP now owns 631,486 shares of the company’s stock worth $18,711,000 after purchasing an additional 532,470 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in nLight by 119.4% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 755,754 shares of the company’s stock valued at $22,393,000 after purchasing an additional 411,360 shares during the period. Finally, New York State Common Retirement Fund raised its stake in nLight by 2,027.6% during the 4th quarter. New York State Common Retirement Fund now owns 342,080 shares of the company’s stock valued at $12,831,000 after purchasing an additional 326,002 shares during the period. 83.88% of the stock is owned by hedge funds and other institutional investors.

nLight Stock Up 1.9%

NASDAQ LASR opened at $70.11 on Tuesday. nLight has a 12-month low of $19.45 and a 12-month high of $86.95. The company has a 50 day moving average price of $68.34 and a two-hundred day moving average price of $64.05. The stock has a market capitalization of $3.95 billion, a PE ratio of -233.69 and a beta of 2.31.

nLight (NASDAQ:LASR) last posted its earnings results on Thursday, May 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.08 by $0.12. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The firm had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. During the same period in the prior year, the business posted ($0.04) earnings per share. The business’s quarterly revenue was up 55.2% on a year-over-year basis. As a group, equities analysts anticipate that nLight will post -0.17 EPS for the current year.

Analysts Set New Price Targets

LASR has been the subject of several recent analyst reports. Zacks Research raised nLight from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 6th. Needham & Company LLC upped their price target on nLight from $80.00 to $90.00 and gave the company a “buy” rating in a research report on Thursday, July 9th. Roth Capital reissued a “buy” rating and issued a $81.00 price objective on shares of nLight in a research note on Friday, April 24th. Stifel Nicolaus increased their price objective on nLight from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Finally, Wall Street Zen lowered nLight from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $80.94.

Insider Transactions at nLight

In related news, CEO Scott H. Keeney sold 16,089 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $74.60, for a total value of $1,200,239.40. Following the completion of the sale, the chief executive officer directly owned 2,185,039 shares in the company, valued at approximately $163,003,909.40. The trade was a 0.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO James Nias sold 940 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $77.99, for a total value of $73,310.60. Following the sale, the chief accounting officer directly owned 97,621 shares of the company’s stock, valued at $7,613,461.79. The trade was a 0.95% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 391,038 shares of company stock worth $28,367,419. 3.10% of the stock is owned by corporate insiders.

About nLight

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. The company also provides laser sensors, including light detection and ranging technologies for intelligence, surveillance, and reconnaissance applications; and fiber amplifiers, beam combination, and control systems for use in high-energy laser systems in directed energy applications.