nLIGHT (LASR) Received its Third Buy in a Row

After Canaccord Genuity and Craig-Hallum gave nLIGHT (NASDAQ: LASR) a Buy rating last month, the company received another Buy, this time from Needham. Analyst James Ricchiuti assigned a Buy rating to nLIGHT today and set a price target of $24.00. The company’s shares closed last Tuesday at $22.35, close to its 52-week high of $23.72.

According to TipRanks.com, Ricchiuti is a 5-star analyst with an average return of 13.6% and a 61.7% success rate. Ricchiuti covers the Technology sector, focusing on stocks such as Benchmark Electronics, Teledyne Technologies, and Faro Technologies.

Currently, the analyst consensus on nLIGHT is a Strong Buy with an average price target of $22.67, representing a 3.9% upside. In a report issued on May 7, Craig-Hallum also upgraded the stock to Buy.

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The company has a one-year high of $23.72 and a one-year low of $9.04. Currently, nLIGHT has an average volume of 367.3K.

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nLIGHT, Inc. develops and manufactures semiconductor and fiber lasers components. Its products include semiconductor lasers, fiber lasers and optical fibers. The company was founded by Scott H. Keeney, Mark DeVito and Jason Farmer in 2000 and is headquartered in Vancouver, WA.