Royce & Associates LP Boosts Holdings in nLIGHT, Inc. (NASDAQ:LASR)

Royce & Associates LP boosted its stake in nLIGHT, Inc. (NASDAQ:LASR - Free Report) by 9.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,733,476 shares of the company's stock after purchasing an additional 227,580 shares during the quarter. Royce & Associates LP owned approximately 5.68% of nLIGHT worth $29,221,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Pinnacle Associates Ltd. boosted its position in shares of nLIGHT by 18.1% in the second quarter. Pinnacle Associates Ltd. now owns 2,020,769 shares of the company's stock valued at $22,087,000 after acquiring an additional 309,634 shares during the period. Divisar Capital Management LLC boosted its holdings in nLIGHT by 9.4% in the 2nd quarter. Divisar Capital Management LLC now owns 1,545,935 shares of the company's stock valued at $16,897,000 after purchasing an additional 133,023 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of nLIGHT by 4.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,147,845 shares of the company's stock worth $12,547,000 after purchasing an additional 47,267 shares during the period. Assenagon Asset Management S.A. raised its position in shares of nLIGHT by 336.0% in the third quarter. Assenagon Asset Management S.A. now owns 44,629 shares of the company's stock worth $477,000 after buying an additional 34,393 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in nLIGHT during the second quarter valued at $271,000. Hedge funds and other institutional investors own 83.88% of the company's stock.

Insider Buying and Selling

In other news, CFO Joseph John Corso sold 4,461 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $11.44, for a total value of $51,033.84. Following the transaction, the chief financial officer now owns 171,434 shares in the company, valued at approximately $1,961,204.96. This trade represents a 2.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott H. Keeney sold 15,000 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $13.73, for a total transaction of $205,950.00. Following the sale, the chief executive officer now owns 1,347,781 shares of the company's stock, valued at $18,505,033.13. This represents a 1.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,461 shares of company stock worth $591,634 in the last quarter. 6.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Benchmark restated a "speculative buy" rating and issued a $17.00 target price on shares of nLIGHT in a research note on Friday, August 2nd. Needham & Company LLC raised their target price 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. Finally, Cantor Fitzgerald assumed coverage on shares of nLIGHT in a research note on Thursday, October 3rd. They issued an "overweight" rating and a $15.50 price target for the company.

nLIGHT Price Performance

LASR stock traded down $0.23 during mid-day trading on Friday, hitting $10.26. 479,281 shares of the stock were exchanged, compared to its average volume of 244,552. The stock has a market capitalization of $496.89 million, a price-to-earnings ratio of -9.96 and a beta of 2.33. The business has a fifty day moving average price of $11.20 and a 200 day moving average price of $11.69. nLIGHT, Inc. has a 12 month low of $9.80 and a 12 month high of $15.00.

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.