Nlight Inc (NASDAQ:LASR) Stock Position Lowered by MetLife Investment Advisors LLC

MetLife Investment Advisors LLC lowered its stake in Nlight Inc (NASDAQ:LASR) by 22.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,315 shares of the company’s stock after selling 2,973 shares during the quarter. MetLife Investment Advisors LLC’s holdings in Nlight were worth $230,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC raised its holdings in Nlight by 6.2% in the 1st quarter. Clearbridge Investments LLC now owns 2,046,741 shares of the company’s stock worth $45,601,000 after purchasing an additional 118,714 shares during the period. Marshall Wace LLP acquired a new position in Nlight in the 1st quarter worth about $379,000. Meridian Wealth Management LLC acquired a new position in Nlight in the 1st quarter worth about $52,000. Primecap Management Co. CA raised its holdings in shares of Nlight by 3.6% during the first quarter. Primecap Management Co. CA now owns 354,300 shares of the company’s stock valued at $7,894,000 after acquiring an additional 12,400 shares during the last quarter. Finally, AlpInvest Partners B.V. acquired a new position in shares of Nlight during the first quarter valued at approximately $3,858,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Shares of LASR traded down $0.44 during midday trading on Thursday, hitting $15.00. 478,804 shares of the stock were exchanged, compared to its average volume of 413,642. The firm has a market cap of $555.08 million, a price-to-earnings ratio of 46.88, a P/E/G ratio of 5.93 and a beta of 2.02. Nlight Inc has a 52-week low of $14.78 and a 52-week high of $41.78. The stock’s fifty day moving average is $18.37.

Nlight (NASDAQ:LASR) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.05. Nlight had a return on equity of 4.77% and a net margin of 5.13%. The business had revenue of $41.86 million for the quarter, compared to analysts’ expectations of $42.47 million. During the same period last year, the firm earned $0.10 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Analysts expect that Nlight Inc will post 0.09 EPS for the current year.

LASR has been the subject of a number of research analyst reports. Zacks Investment Research cut Hess Midstream Partners from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. Needham & Company LLC upped their price target on Okta to $154.00 and gave the company a “buy” rating in a research report on Wednesday. Two analysts have rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Nlight presently has a consensus rating of “Hold” and an average target price of $25.13.

In other news, insider Robert Martinsen sold 2,000 shares of Nlight stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $26.39, for a total transaction of $52,780.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ran Bareket sold 5,000 shares of Nlight stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $25.07, for a total transaction of $125,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,370 shares of company stock worth $591,067. Corporate insiders own 5.80% of the company’s stock.

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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Institutional Ownership by Quarter for Nlight (NASDAQ:LASR)

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