nLight Inc falls as brokerage cuts PT

nLIGHT

28/03/2022 19:43

** Berenberg cuts PT on semiconductor laser company's shares
 LASR.O  to $20 from $31, maintains "hold" rating
    ** Shares of nLight fall as much as 4.8% to $16.69
    ** Brokerage expects LASR's 2022 sales to slow down due to
sluggish demand growth and ongoing supply chain issues
    ** Berenberg forecasts LASR's margin to decrease by ~2% in
2022 due to increase in costs of labor, components and logistics
    ** Philadelphia SE Semiconductor index  .SOX  down ~13%
since December as LASR and peers such as IPG Photonics Corp
 IPGP.O  and MKS Instruments Inc  MKSI.O  face pressure in 2022
due to ongoing weakness in global manufacturing - brokerage
    ** 4 of 9 analysts rate the stock "buy" or higher, 5 "hold";
median PT $28 - Refinitiv Eikon
    **As of last close, LASR down 29.5% YTD

 (Reporting by Vansh Agarwal)
 ((Vansh.Agarwal@thomsonreuters.com))