State Street Corp Buys 11,132 Shares of nLIGHT, Inc. (NASDAQ:LASR)

State Street Corp raised its position in shares of nLIGHT, Inc. (NASDAQ:LASR) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,021,736 shares of the company’s stock after acquiring an additional 11,132 shares during the quarter. State Street Corp owned approximately 2.11% of nLIGHT worth $10,922,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on LASR shares. Cantor Fitzgerald initiated coverage on nLIGHT in a report on Thursday, October 3rd. They set an “overweight” rating and a $15.50 price target for the company. Needham & Company LLC raised their price objective on shares of nLIGHT from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Friday, November 8th.

nLIGHT Price Performance

nLIGHT stock opened at $10.26 on Friday. nLIGHT, Inc. has a one year low of $9.64 and a one year high of $14.75. The business’s fifty day moving average is $11.17 and its 200 day moving average is $11.28. The stock has a market capitalization of $496.89 million, a PE ratio of -9.96 and a beta of 2.20.

Insider Activity

In related news, CFO Joseph John Corso sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $10.92, for a total value of $27,300.00. Following the transaction, the chief financial officer now owns 155,129 shares of the company’s stock, valued at approximately $1,694,008.68. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott H. Keeney sold 12,013 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,340,146 shares of the company’s stock, valued at approximately $13,347,854.16. This represents a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 91,019 shares of company stock valued at $1,027,215 over the last three months. Insiders own 6.10% of the company’s stock.

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.