Needham & Company LLC Cuts nLIGHT (NASDAQ:LASR) Price Target to $15.00

nLIGHT (NASDAQ:LASR) had its price objective trimmed by Needham & Company LLC from $16.00 to $15.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

nLIGHT Stock Performance

LASR stock opened at $12.62 on Friday. The company has a market capitalization of $600.21 million, a PE ratio of -12.37 and a beta of 2.42. nLIGHT has a one year low of $8.13 and a one year high of $15.91. The company’s 50 day moving average price is $12.23 and its two-hundred day moving average price is $12.33.

nLIGHT (NASDAQ:LASR) last released its earnings results on Thursday, February 22nd. The company reported ($0.26) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.02. The company had revenue of $51.89 million for the quarter, compared to analyst estimates of $48.08 million. nLIGHT had a negative net margin of 23.81% and a negative return on equity of 17.60%. On average, research analysts predict that nLIGHT will post -0.93 EPS for the current year.

Insider Activity

In other nLIGHT news, CFO Joseph John Corso sold 14,105 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $12.26, for a total value 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 legal filing with the SEC, which is available through this hyperlink. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On nLIGHT

A number of large investors have recently made changes to their positions in LASR. Bank of New York Mellon Corp lifted its stake in nLIGHT by 12.9% in the third quarter. Bank of New York Mellon Corp now owns 2,357,028 shares of the company’s stock worth $24,513,000 after acquiring an additional 269,000 shares during the period. Pinnacle Associates Ltd. boosted its position in nLIGHT by 18.0% during the 4th quarter. Pinnacle Associates Ltd. now owns 1,693,821 shares of the company’s stock valued at $22,867,000 after acquiring an additional 258,199 shares in the last quarter. Acadian Asset Management LLC boosted its position in shares of nLIGHT by 1,251.2% during the third quarter. Acadian Asset Management LLC now owns 250,373 shares of the company’s stock valued at $2,601,000 after purchasing an additional 231,844 shares in the last quarter. Senvest Management LLC grew its stake in nLIGHT by 20.7% in the fourth quarter. Senvest Management LLC now owns 1,156,740 shares of the company’s stock worth $15,616,000 after purchasing an additional 198,609 shares during the period. Finally, Stephens Investment Management Group LLC raised its holdings in nLIGHT by 17.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,044,766 shares of the company’s stock worth $14,104,000 after purchasing an additional 154,273 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.

nLIGHT Company 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.