MetLife Investment Advisors LLC bought a new position in Nlight Inc (NASDAQ:LASR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 13,288 shares of the company’s stock, valued at approximately $236,000.
Several other institutional investors have also recently modified their holdings of the company. Royce & Associates LP grew its holdings in shares of Nlight by 65.0% in the fourth quarter. Royce & Associates LP now owns 1,432,621 shares of the company’s stock worth $25,472,000 after purchasing an additional 564,496 shares during the last quarter. Neuberger Berman Group LLC lifted its stake in Nlight by 408.7% in the third quarter. Neuberger Berman Group LLC now owns 1,248,103 shares of the company’s stock worth $27,720,000 after acquiring an additional 1,002,773 shares during the period. Clearbridge Investments LLC lifted its stake in Nlight by 592.3% in the third quarter. Clearbridge Investments LLC now owns 1,238,871 shares of the company’s stock worth $27,515,000 after acquiring an additional 1,059,921 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Nlight by 241.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,221,586 shares of the company’s stock worth $21,720,000 after acquiring an additional 863,440 shares during the period. Finally, BlackRock Inc. lifted its stake in Nlight by 188.7% in the fourth quarter. BlackRock Inc. now owns 1,161,739 shares of the company’s stock worth $20,656,000 after acquiring an additional 759,305 shares during the period. Hedge funds and other institutional investors own 75.76% of the company’s stock.
Shares of LASR stock opened at $24.47 on Friday. Nlight Inc has a 52 week low of $16.25 and a 52 week high of $43.63. The firm has a market capitalization of $899.25 million and a P/E ratio of 76.47.
A number of brokerages recently commented on LASR. Northcoast Research reaffirmed a “hold” rating on shares of Nlight in a research note on Tuesday, January 29th. Craig Hallum began coverage on Nlight in a research note on Friday, February 8th. They issued a “hold” rating and a $20.00 price target for the company. Finally, Zacks Investment Research lowered Nlight from a “hold” rating to a “sell” rating in a research note on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $28.50.
In other Nlight news, CFO Ran Bareket sold 20,309 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $20.00, for a total transaction of $406,180.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert Martinsen sold 1,500 shares of the firm’s stock in a transaction on Monday, February 4th. The shares were sold at an average price of $19.86, for a total value of $29,790.00. The disclosure for this sale can be found here. Insiders have sold 255,809 shares of company stock valued at $5,778,715 in the last three months.
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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