Legato Capital Management LLC Has $1.44 Million Position in nLight $LASR

Key Points

• Legato Capital Management increased its nLight stake by 84.1% in the fourth quarter, ending with 38,475 shares worth about $1.44 million.
• nLight reported a strong fiscal quarter, with EPS of $0.20 versus $0.08 expected and revenue of $80.18 million, up 55.2% year over year.
• Despite recent insider selling by top executives, the trades were disclosed as part of pre-arranged 10b5-1 plans and to cover tax withholding on vested equity awards, suggesting they were routine rather than a negative signal.

Legato Capital Management LLC lifted its stake in shares of nLight (NASDAQ:LASR - Free Report) by 84.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 38,475 shares of the company's stock after acquiring an additional 17,580 shares during the period. Legato Capital Management LLC owned 0.08% of nLight worth $1,443,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Financial Consulate Inc. acquired a new position in shares of nLight during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. raised its holdings in nLight by 22.3% during the fourth quarter. SBI Securities Co. Ltd. now owns 1,225 shares of the company's stock worth $46,000 after buying an additional 223 shares during the last quarter. Wexford Capital LP acquired a new position in nLight during the third quarter worth $41,000. Osaic Holdings Inc. raised its holdings in nLight by 1,599.1% during the second quarter. Osaic Holdings Inc. now owns 1,835 shares of the company's stock worth $36,000 after buying an additional 1,727 shares during the last quarter. Finally, Quarry LP raised its holdings in nLight by 120.5% during the third quarter. Quarry LP now owns 2,509 shares of the company's stock worth $74,000 after buying an additional 1,371 shares during the last quarter. Institutional investors and hedge funds own 83.88% of the company's stock.

Insider Transactions at nLight

In other news, CAO James Nias sold 415 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $71.09, for a total value of $29,502.35. Following the completion of the sale, the chief accounting officer owned 98,561 shares in the company, valued at $7,006,701.49. This represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, CFO Joseph John Corso sold 35,476 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $70.40, for a total transaction of $2,497,510.40. Following the completion of the sale, the chief financial officer owned 177,572 shares of the company's stock, valued at approximately $12,501,068.80. The trade was a 16.65% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders sold a total of 405,487 shares of company stock worth $27,566,119 in the last quarter. 3.10% of the stock is currently owned by corporate insiders.

nLight Trading Down 0.0%

LASR opened at $78.54 on Monday. nLight has a 1-year low of $13.45 and a 1-year high of $86.95. The company has a market cap of $4.43 billion, a price-to-earnings ratio of -261.79 and a beta of 2.34. The company's fifty day moving average price is $68.72 and its two-hundred day moving average price is $52.20.

nLight (NASDAQ:LASR - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.20 earnings per share (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 during the quarter, compared to analyst estimates of $72.14 million. During the same quarter in the prior year, the business posted ($0.04) EPS. The business's revenue was up 55.2% compared to the same quarter last year. As a group, equities analysts forecast that nLight will post -0.17 earnings per share for the current fiscal year.

Analyst Ratings Changes

LASR has been the topic of several research reports. Raymond James Financial restated a "strong-buy" rating and set a $100.00 price objective on shares of nLight in a report on Friday, May 8th. Needham & Company LLC upped their price objective on shares of nLight from $70.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, May 8th. William Blair initiated coverage on shares of nLight in a report on Friday, March 27th. They set an "outperform" rating on the stock. Cantor Fitzgerald upped their price objective on shares of nLight from $40.00 to $62.50 and gave the stock an "overweight" rating in a report on Friday, February 27th. Finally, Robert W. Baird initiated coverage on shares of nLight in a report on Wednesday, March 4th. They set an "outperform" rating and a $95.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $69.06.

Trending Headlines about nLight

Here are the key news stories impacting nLight this week:

• Positive Sentiment: nLight’s recent quarterly results beat expectations, with EPS of $0.20 versus $0.08 expected and revenue of $80.18 million versus $72.14 million expected. Revenue also rose 55.2% year over year, reinforcing the view that business momentum remains strong.
• Positive Sentiment: Research coverage has stayed constructive, including reports highlighting nLight as a strong momentum stock and multiple bullish analyst ratings, which can help support investor confidence in LASR.
• Neutral Sentiment: Several executives, including CEO Scott H. Keeney, CFO Joseph John Corso, and CAO James Nias, sold shares recently. The filings say the trades were made under pre-arranged Rule 10b5-1 plans and to cover tax withholding on vested equity awards, which makes them less concerning than discretionary selling.
• Negative Sentiment: Even though the insider sales appear routine, the volume of selling from top executives may still weigh on sentiment in the short term as some investors interpret it as profit-taking after a sharp run-up in the share price.

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.

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