State Street Corp Increases Holdings in nLIGHT, Inc. (NASDAQ:LASR)

State Street Corp boosted its holdings in shares of nLIGHT, Inc. (NASDAQ:LASR) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,021,736 shares of the company’s stock after purchasing an additional 11,132 shares during the quarter. State Street Corp’s holdings in nLIGHT were worth $10,922,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Pinnacle Associates Ltd. raised its position in shares of nLIGHT by 18.1% during the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company’s stock valued at $22,087,000 after buying an additional 309,634 shares during the last quarter. Natixis Advisors LLC increased its holdings in nLIGHT by 19.2% in the 2nd quarter. Natixis Advisors LLC now owns 93,043 shares of the company’s stock valued at $1,017,000 after acquiring an additional 14,983 shares during the last quarter. Victory Capital Management Inc. lifted its stake in nLIGHT by 27.2% in the 2nd quarter. Victory Capital Management Inc. now owns 91,500 shares of the company’s stock worth $1,000,000 after purchasing an additional 19,556 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of nLIGHT by 15,830.4% during the 2nd quarter. Quest Partners LLC now owns 21,984 shares of the company’s stock valued at $240,000 after purchasing an additional 21,846 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of nLIGHT by 13.0% during the second quarter. American Century Companies Inc. now owns 69,886 shares of the company’s stock valued at $764,000 after purchasing an additional 8,064 shares in the last quarter. 83.88% of the stock is owned by hedge funds and other institutional investors.

nLIGHT Stock Up 2.4 %

Shares of NASDAQ:LASR opened at $10.26 on Friday. The firm has a fifty day simple moving average of $11.17 and a two-hundred day simple moving average of $11.28. The stock has a market capitalization of $496.89 million, a P/E ratio of -9.96 and a beta of 2.20. nLIGHT, Inc. has a 52 week low of $9.64 and a 52 week high of $14.75.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on LASR shares. Needham & Company LLC boosted their target price on nLIGHT from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Cantor Fitzgerald assumed coverage on nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price objective on the stock.

Insider Buying and Selling

In other nLIGHT news, CEO Scott H. Keeney sold 12,013 shares of nLIGHT stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $9.96, for a total transaction of $119,649.48. Following the completion of the transaction, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at $13,347,854.16. The trade was a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joseph John Corso sold 2,500 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total transaction of $27,300.00. Following the transaction, the chief financial officer now owns 155,129 shares in the company, valued at $1,694,008.68. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 91,019 shares of company stock worth $1,027,215. Corporate insiders own 6.10% of the company’s stock.

nLIGHT 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.