Nlight (NASDAQ:LASR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage presently has a $24.00 price target on the stock. Zacks Investment Research‘s target price suggests a potential upside of 15.22% from the company’s previous close.

According to Zacks, “nLIGHT Inc. provides high-power semiconductor and fiber laser. It sells its products primarily in industrial, microfabrication, aerospace and defense markets. nLIGHT Inc. is based in Vancouver, Washington. “

Several other research firms have also recently commented on LASR. ValuEngine cut shares of Nlight from a “buy” rating to a “hold” rating in a research note on Saturday, January 4th. Needham & Company LLC upped their target price on shares of Nlight from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Finally, Piper Jaffray Companies started coverage on shares of Nlight in a research note on Friday, December 20th. They set an “overweight” rating and a $25.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Nlight presently has a consensus rating of “Buy” and a consensus price target of $21.00.

NASDAQ:LASR opened at $20.83 on Tuesday. The stock has a market cap of $803.89 million, a P/E ratio of 2,083.00 and a beta of 2.41. Nlight has a one year low of $12.60 and a one year high of $26.77. The company has a fifty day moving average price of $20.23 and a 200 day moving average price of $16.83.

Nlight (NASDAQ:LASR) last released its earnings results on Monday, November 4th. The company reported $0.01 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.01). The company had revenue of $43.80 million for the quarter, compared to analyst estimates of $43.92 million. Nlight had a net margin of 0.11% and a return on equity of 0.09%. Nlight’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 earnings per share. On average, research analysts forecast that Nlight will post -0.2 EPS for the current fiscal year.

In related news, insider Robert Martinsen sold 24,905 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $199.45, for a total value of $4,967,302.25. Also, CFO Ran Bareket sold 25,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $20.02, for a total transaction of $500,500.00. Following the completion of the sale, the chief financial officer now owns 118,333 shares in the company, valued at $2,369,026.66. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,243 shares of company stock worth $6,026,012. 5.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Nlight by 8.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,228,403 shares of the company’s stock valued at $42,786,000 after acquiring an additional 176,863 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Nlight by 21.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,919,560 shares of the company’s stock worth $30,061,000 after purchasing an additional 337,561 shares in the last quarter. BlackRock Inc. increased its stake in Nlight by 38.0% during the 2nd quarter. BlackRock Inc. now owns 1,673,158 shares of the company’s stock worth $32,124,000 after purchasing an additional 460,470 shares in the last quarter. State Street Corp increased its stake in Nlight by 10.0% during the 3rd quarter. State Street Corp now owns 611,155 shares of the company’s stock worth $9,571,000 after purchasing an additional 55,396 shares in the last quarter. Finally, Stephens Investment Management Group LLC increased its stake in Nlight by 13.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 600,458 shares of the company’s stock worth $9,403,000 after purchasing an additional 73,323 shares in the last quarter. Institutional investors and hedge funds own 81.26% of the company’s stock.

About Nlight

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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