The Manufacturers Life Insurance Company Acquires 1,546 Shares of nLIGHT, Inc. (NASDAQ:LASR)

The Manufacturers Life Insurance Company raised its position in nLIGHT, Inc. (NASDAQ:LASR) by 9.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,681 shares of the company’s stock after buying an additional 1,546 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in nLIGHT were worth $204,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in LASR. ProShare Advisors LLC raised its stake in shares of nLIGHT by 15.0% in the first quarter. ProShare Advisors LLC now owns 11,518 shares of the company’s stock valued at $150,000 after buying an additional 1,503 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of nLIGHT by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,154 shares of the company’s stock worth $172,000 after purchasing an additional 1,886 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of nLIGHT by 9.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,913 shares of the company’s stock worth $181,000 after purchasing an additional 1,220 shares in the last quarter. MQS Management LLC purchased a new position in shares of nLIGHT in the 2nd quarter worth about $197,000. Finally, Quest Partners LLC boosted its holdings in shares of nLIGHT by 15,830.4% in the 2nd quarter. Quest Partners LLC now owns 21,984 shares of the company’s stock worth $240,000 after purchasing an additional 21,846 shares in the last quarter. 83.88% of the stock is currently owned by institutional investors.

Insider Buying and Selling at nLIGHT

In other nLIGHT news, CEO Scott H. Keeney sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total transaction of $166,650.00. Following the completion of the transaction, the chief executive officer now owns 1,347,781 shares of the company’s stock, valued at $14,973,846.91. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Joseph John Corso sold 4,461 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $11.44, for a total value of $51,033.84. Following the completion of the transaction, the chief financial officer now owns 171,434 shares of the company’s stock, valued at approximately $1,961,204.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Scott H. Keeney sold 15,000 shares of the stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $11.11, for a total value of $166,650.00. Following the completion of the transaction, the chief executive officer now directly owns 1,347,781 shares of the company’s stock, valued at $14,973,846.91. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LASR has been the subject of a number of research reports. Cantor Fitzgerald initiated coverage on nLIGHT in a report on Thursday, October 3rd. They issued an “overweight” rating and a $15.50 price objective for the company. Benchmark reissued a “speculative buy” rating and issued a $17.00 target price on shares of nLIGHT in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 target price on shares of nLIGHT in a research note on Monday, August 5th.

nLIGHT Trading Down 1.9 %

NASDAQ LASR opened at $11.02 on Friday. nLIGHT, Inc. has a 1-year low of $8.13 and a 1-year high of $15.00. The stock has a 50-day moving average of $11.07 and a 200-day moving average of $11.67. The firm has a market cap of $524.17 million, a PE ratio of -10.80 and a beta of 2.35.

nLIGHT (NASDAQ:LASR) last released its earnings results on Thursday, August 1st. The company reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The company had revenue of $50.51 million during the quarter, compared to analyst estimates of $49.23 million. nLIGHT had a negative return on equity of 19.58% and a negative net margin of 25.62%. nLIGHT’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.18) EPS. As a group, equities research analysts forecast that nLIGHT, Inc. will post -0.98 earnings per share for the current fiscal year.

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.