nLight $LASR is Needham Investment Management LLC's Largest Position

Key Points

• Needham Investment Management LLC increased its nLight stake by 3.6% in the fourth quarter and now owns 1,857,740 shares, making nLight its largest holding. The position was valued at about $69.7 million and represented roughly 4.4% of the fund’s portfolio.
• nLight reported better-than-expected quarterly results, posting EPS of $0.20 versus estimates of $0.08 and revenue of $80.18 million versus $72.14 million expected. Revenue jumped 55.2% year over year, though the company still posted negative net margin and return on equity.
• Analysts remain generally bullish, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. Insider selling has also been notable, including recent sales by the CFO and CEO under pre-arranged trading plans.

Needham Investment Management LLC boosted its holdings in shares of nLight (NASDAQ:LASR - Free Report) by 3.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,857,740 shares of the company's stock after buying an additional 65,000 shares during the quarter. nLight accounts for about 4.4% of Needham Investment Management LLC's portfolio, making the stock its largest holding. Needham Investment Management LLC owned about 3.66% of nLight worth $69,684,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of nLight by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company's stock valued at $214,000 after buying an additional 1,170 shares during the period. Jane Street Group LLC grew its holdings in nLight by 622.7% in the first quarter. Jane Street Group LLC now owns 77,201 shares of the company's stock valued at $600,000 after purchasing an additional 66,518 shares during the period. Rhumbline Advisers grew its position in shares of nLight by 8.4% in the second quarter. Rhumbline Advisers now owns 75,545 shares of the company's stock valued at $1,487,000 after purchasing an additional 5,828 shares during the period. American Century Companies Inc. grew its holdings in shares of nLight by 7.2% during the second quarter. American Century Companies Inc. now owns 107,417 shares of the company's stock worth $2,114,000 after buying an additional 7,179 shares in the last quarter. Finally, Hsbc Holdings PLC acquired a new position in nLight during the second quarter worth about $600,000. Hedge funds and other institutional investors own 83.88% of the company's stock.

Insider Buying and Selling

In other nLight news, CFO Joseph John Corso sold 35,476 shares of the firm's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $70.40, for a total transaction of $2,497,510.40. Following the sale, the chief financial officer owned 177,572 shares of the company's stock, valued at approximately $12,501,068.80. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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, CEO Scott H. Keeney sold 46,735 shares of the stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $68.48, for a total transaction of $3,200,412.80. Following the completion of the transaction, the chief executive officer directly owned 2,375,519 shares in the company, valued at $162,675,541.12. This trade represents a 1.93% decrease in their ownership of the stock. 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 391,038 shares of company stock valued at $28,367,419 over the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

nLight Price Performance

LASR stock opened at $69.63 on Tuesday. The business's 50-day moving average is $71.12 and its two-hundred day moving average is $56.83. The firm has a market capitalization of $3.93 billion, a P/E ratio of -232.09 and a beta of 2.31. nLight has a 1 year low of $16.87 and a 1 year high of $86.95.

nLight (NASDAQ:LASR - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.08 by $0.12. The company had revenue of $80.18 million for the quarter, compared to the consensus estimate of $72.14 million. nLight had a negative net margin of 5.08% and a negative return on equity of 4.18%. The company's quarterly revenue was up 55.2% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) EPS. On average, analysts expect that nLight will post -0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. William Blair started coverage on shares of nLight in a research note on Friday, March 27th. They issued an "outperform" rating on the stock. Stifel Nicolaus increased their price objective on shares of nLight from $75.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, May 21st. Needham & Company LLC upped their price target on nLight from $70.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Wall Street Zen raised nLight from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Finally, Roth Mkm reissued a "buy" rating and set a $81.00 price target on shares of nLight in a research report on Friday, April 24th. One 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.06.

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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