Northern Trust Corp Has $5.02 Million Stake in nLIGHT, Inc. (NASDAQ:LASR)

Northern Trust Corp grew its holdings in nLIGHT, Inc. (NASDAQ:LASR) by 10.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 478,646 shares of the company’s stock after acquiring an additional 46,881 shares during the quarter. Northern Trust Corp’s holdings in nLIGHT were worth $5,021,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Royce & Associates LP grew its position in shares of nLIGHT by 5.3% in the 4th quarter. Royce & Associates LP now owns 2,877,759 shares of the company’s stock valued at $30,188,000 after purchasing an additional 144,283 shares during the period. Senvest Management LLC lifted its stake in nLIGHT by 114.1% in the fourth quarter. Senvest Management LLC now owns 2,481,677 shares of the company’s stock valued at $26,033,000 after buying an additional 1,322,637 shares in the last quarter. Stephens Investment Management Group LLC boosted its holdings in shares of nLIGHT by 20.8% in the fourth quarter. Stephens Investment Management Group LLC now owns 946,849 shares of the company’s stock valued at $9,932,000 after buying an additional 162,903 shares during the period. Segall Bryant & Hamill LLC bought a new stake in shares of nLIGHT during the fourth quarter worth $5,270,000. Finally, First Washington CORP raised its holdings in shares of nLIGHT by 21.9% during the fourth quarter. First Washington CORP now owns 397,391 shares of the company’s stock worth $4,169,000 after acquiring an additional 71,414 shares during the period. Institutional investors and hedge funds own 83.88% of the company’s stock.

nLIGHT Stock Performance

Shares of nLIGHT stock opened at $13.45 on Thursday. The firm has a market cap of $664.95 million, a PE ratio of -13.06 and a beta of 2.02. The business’s 50 day simple moving average is $8.71 and its 200 day simple moving average is $9.99. nLIGHT, Inc. has a 52-week low of $6.20 and a 52-week high of $14.73.

nLIGHT (NASDAQ:LASR) last issued its quarterly earnings results on Thursday, May 8th. The company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.13. nLIGHT had a negative net margin of 24.16% and a negative return on equity of 19.53%. The company had revenue of $51.67 million during the quarter, compared to analysts’ expectations of $47.77 million. During the same period last year, the business earned ($0.17) EPS. The business’s quarterly revenue was up 16.2% on a year-over-year basis. As a group, equities research analysts predict that nLIGHT, Inc. will post -1.1 EPS for the current year.

Insider Buying and Selling

In other nLIGHT news, CEO Scott H. Keeney sold 53,511 shares of nLIGHT stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $8.17, for a total value of $437,184.87. Following the sale, the chief executive officer now directly owns 1,267,927 shares in the company, valued at approximately $10,358,963.59. The trade was a 4.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Craig Hallum raised shares of nLIGHT from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, nLIGHT currently has an average rating of “Buy” and a consensus price target of $14.90.

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.