nLight $LASR Position Trimmed by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services trimmed its stake in nLight by 7.9% in Q4, now owning 770,492 shares (about 1.52% of the company) valued at ~$28.9 million, while institutional investors own roughly 83.88% of the stock.
• Insider selling accelerated last quarter, with executives (including the CAO and CFO) selling a total of 130,780 shares worth ~$8.03 million, reducing insider ownership to 4.70%.
• nLight posted strong results with revenue up 71.3% year-over-year and an EPS beat for the quarter; analysts are largely bullish (average rating "Moderate Buy") with a consensus target of $58.31 despite the stock trading near $66.42.

Massachusetts Financial Services Co. MA trimmed its holdings in shares of nLight (NASDAQ:LASR - Free Report) by 7.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 770,492 shares of the company's stock after selling 66,468 shares during the period. Massachusetts Financial Services Co. MA owned about 1.52% of nLight worth $28,901,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in LASR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in nLight by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 27,593 shares of the company's stock worth $214,000 after buying an additional 1,170 shares in the last quarter. Jane Street Group LLC boosted its holdings in nLight by 622.7% during the first quarter. Jane Street Group LLC now owns 77,201 shares of the company's stock worth $600,000 after buying an additional 66,518 shares in the last quarter. Rhumbline Advisers boosted its holdings in nLight by 8.4% during the second quarter. Rhumbline Advisers now owns 75,545 shares of the company's stock worth $1,487,000 after buying an additional 5,828 shares in the last quarter. American Century Companies Inc. boosted its holdings in 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 bought a new stake in nLight during the second quarter worth approximately $600,000. 83.88% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO James Nias sold 1,808 shares of the company's stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $64.42, for a total value of $116,471.36. Following the completion of the sale, the chief accounting officer owned 93,899 shares in the company, valued at approximately $6,048,973.58. This represents a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph John Corso sold 12,290 shares of the stock in a transaction that occurred on Friday, March 6th. The stock was sold at an average price of $60.39, for a total transaction of $742,193.10. Following the completion of the sale, the chief financial officer owned 170,896 shares of the company's stock, valued at approximately $10,320,409.44. The trade was a 6.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 130,780 shares of company stock worth $8,032,729 in the last quarter. Insiders own 4.70% of the company's stock.

nLight Stock Performance

Shares of NASDAQ:LASR opened at $66.42 on Thursday. The company has a market cap of $3.71 billion, a PE ratio of -141.32 and a beta of 2.27. nLight has a 52 week low of $6.91 and a 52 week high of $74.10. The firm has a 50 day simple moving average of $60.89 and a 200 day simple moving average of $44.73.

nLight (NASDAQ:LASR - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.11 by $0.03. The business had revenue of $81.19 million during the quarter, compared to the consensus estimate of $76.71 million. nLight had a negative net margin of 8.98% and a negative return on equity of 9.28%. The firm's quarterly revenue was up 71.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.30) EPS. On average, equities analysts predict that nLight will post -1.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LASR shares. Roth Mkm raised their target price on shares of nLight from $44.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, February 3rd. Robert W. Baird started coverage on shares of nLight in a report on Wednesday, March 4th. They set an "outperform" rating and a $95.00 target price for the company. Needham & Company LLC raised their target price on shares of nLight from $48.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, February 27th. Cantor Fitzgerald raised their target price 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, Raymond James Financial restated a "strong-buy" rating and issued a $75.00 price target on shares of nLight in a research report on Friday, February 27th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $58.31.

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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