Nlight Inc (NASDAQ:LASR) – Research analysts at Northcoast Research cut their Q3 2019 earnings estimates for Nlight in a note issued to investors on Tuesday, August 6th. Northcoast Research analyst T. Hayes now expects that the company will post earnings per share of ($0.06) for the quarter, down from their previous estimate of $0.06. Northcoast Research also issued estimates for Nlight’s Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($0.14) EPS, Q1 2020 earnings at $0.01 EPS, Q2 2020 earnings at $0.06 EPS, Q3 2020 earnings at ($0.01) EPS, Q4 2020 earnings at ($0.03) EPS and FY2020 earnings at $0.02 EPS.
Nlight (NASDAQ:LASR) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $48.05 million during the quarter, compared to analysts’ expectations of $47.79 million. Nlight had a return on equity of 2.30% and a net margin of 2.66%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 earnings per share.
Nlight stock opened at $14.60 on Friday. The business has a 50-day moving average price of $16.97. The company has a market cap of $540.35 million, a price-to-earnings ratio of 45.63, a PEG ratio of 5.55 and a beta of 2.00. Nlight has a 12-month low of $13.56 and a 12-month high of $35.73.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its holdings in Nlight by 13.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,296,198 shares of the company’s stock valued at $42,411,000 after buying an additional 270,030 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in Nlight by 6.2% during the 1st quarter. Clearbridge Investments LLC now owns 2,046,741 shares of the company’s stock valued at $45,601,000 after buying an additional 118,714 shares in the last quarter. Royce & Associates LP lifted its holdings in Nlight by 39.1% during the 1st quarter. Royce & Associates LP now owns 1,992,080 shares of the company’s stock valued at $44,384,000 after buying an additional 559,459 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in Nlight by 15.2% during the 1st quarter. Neuberger Berman Group LLC now owns 1,514,518 shares of the company’s stock valued at $33,743,000 after buying an additional 199,275 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Nlight by 188.7% during the 4th quarter. BlackRock Inc. now owns 1,161,739 shares of the company’s stock valued at $20,656,000 after buying an additional 759,305 shares in the last quarter. Institutional investors own 77.58% of the company’s stock.
In related news, insider Robert Martinsen sold 1,500 shares of Nlight stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $20.04, for a total transaction of $30,060.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott H. Keeney sold 4,935 shares of Nlight stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $23.11, for a total transaction of $114,047.85. The disclosure for this sale can be found here. Insiders have sold a total of 12,370 shares of company stock valued at $262,937 in the last quarter. 5.80% of the stock is currently owned by company insiders.
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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