TimesSquare Capital Management LLC Trims Holdings in Nlight Inc (NASDAQ:LASR)

TimesSquare Capital Management LLC lessened its holdings in shares of Nlight Inc (NASDAQ:LASR) by 28.5% during the second quarter, Holdings Channel reports. The firm owned 1,315,910 shares of the company’s stock after selling 524,295 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Nlight were worth $25,265,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LASR. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Nlight by 112.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,295 shares of the company’s stock valued at $51,000 after purchasing an additional 1,214 shares during the period. Meridian Wealth Management LLC purchased a new position in Nlight during the 1st quarter valued at about $52,000. Optimum Investment Advisors purchased a new position in Nlight during the 1st quarter valued at about $58,000. Legal & General Group Plc increased its holdings in Nlight by 302.6% during the 4th quarter. Legal & General Group Plc now owns 4,119 shares of the company’s stock valued at $73,000 after purchasing an additional 3,096 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in Nlight by 81.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,902 shares of the company’s stock valued at $87,000 after purchasing an additional 1,757 shares during the period. Institutional investors own 78.78% of the company’s stock.

Nlight stock traded up $0.22 during trading hours on Friday, hitting $14.14. 318,400 shares of the stock traded hands, compared to its average volume of 466,595. The firm’s 50-day moving average price is $16.37 and its two-hundred day moving average price is $20.35. The company has a market cap of $524.61 million, a PE ratio of 107.08 and a beta of 2.00. Nlight Inc has a one year low of $13.56 and a one year high of $34.43.



Nlight (NASDAQ:LASR) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.01). The firm had revenue of $48.05 million for the quarter, compared to the consensus estimate of $47.79 million. Nlight had a net margin of 2.66% and a return on equity of 2.28%. The business’s revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 earnings per share. On average, equities research analysts predict that Nlight Inc will post -0.18 earnings per share for the current year.

In other news, insider Robert Martinsen sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.04, for a total value of $30,060.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Ran Bareket sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,000 shares of company stock worth $139,250. Insiders own 5.80% of the company’s stock.

LASR has been the topic of several research reports. Zacks Investment Research raised Nlight from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. DA Davidson reaffirmed a “buy” rating and set a $20.00 price objective on shares of Nlight in a research report on Tuesday, August 6th. Craig Hallum cut their price objective on Nlight from $23.00 to $16.00 and set an “in-line” rating on the stock in a research report on Tuesday, August 6th. ValuEngine raised Nlight from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $19.00 price objective (down from $21.00) on shares of Nlight in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $22.56.

Nlight Company Profile

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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Institutional Ownership by Quarter for Nlight (NASDAQ:LASR)

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