Driehaus Capital Management 13F: Adds $72M to nLIGHT (LASR) Stake

Driehaus Capital Management grew its position in nLIGHT, Inc. (NasdaqGS: LASR) by 141.99% during the quarter ending May 15, 2026, as detailed in a recent SEC filing. The investment firm acquired 1,040,150 shares of the semiconductor laser manufacturer. This transaction brought the manager's overall holding to 1,772,697 shares. At the end of the reporting quarter, the expanded position was valued at $123.41 million.

Driehaus Capital Reshapes Its Technology Portfolio

This aggressive buying contrasts with other recent decisions by the investment manager. Prior to this purchase, the fund held 732,547 shares. Around the same time, the firm was actively trimming other holdings. On May 15, 2026, Driehaus Capital Management reduced its position in Scholar Rock Holding Corporation by 32,644 shares, leaving it with a 1.92 million share stake. The fund also trimmed its Kymera Therapeutics holdings by 25,655 shares, a 2.4% decrease, and parred its VSE Corporation holdings by 11,091 shares, which represents a 2.13% decline.

However, nLIGHT was not the only technology firm finding favor with the fund. Driehaus Capital Management also opened a brand-new position in Tower Semiconductor by purchasing 326,103 shares, and it increased its investment in Eos Energy Enterprises by nearly 600,000 shares. These moves indicate a shifting focus toward specific semiconductor and clean-energy technologies within the firm's broader portfolio.

nLIGHT Stock Performance and Technical Indicators

On Saturday, nLIGHT shares were priced at $69.62. Over the past year, the stock has moved between a low of $28.05 and a 52-week high of $86.95. This price action places the equity substantially higher than its 50-day moving average of $43.95. The shares are also trading above the 200-day moving average of $57.89, showcasing a sustained upward trend over the medium term.

The semiconductor laser maker has a total market valuation of roughly $2.05 billion. The forward price-to-earnings ratio is 55.87. Because nLIGHT reported a net loss with an earnings per share figure of -$0.25, the company does not have a meaningful trailing price-to-earnings ratio.

Recent Earnings and Financial Health

For its most recent financial period, nLIGHT reported total revenue of $310.69 million, representing a revenue growth rate of 33.8%. The company is still working toward consistent profitability, posting a net margin of -4.02% and a return on equity of -3.81%.

Despite the net losses, the company maintains a highly liquid balance sheet. It boasts a current ratio of 8.17 and a quick ratio of 7.18, indicating it has ample short-term assets to cover its obligations. Furthermore, its debt-to-equity ratio is a very low 3.37%, meaning the business carries minimal debt leverage as it expands its operations.

Analysts Set New Price Targets

Several brokerages adjusted their expectations for the laser developer. On July 9, 2026, the equity was analyzed by Craig-Hallum, which maintained its buy rating and raised its price target to $100.00 from $80.00. The following day, on July 10, 2026, Needham kept its buy rating and raised its target from $80.00 to $90.00.

These updates contribute to a highly favorable view of the company on Wall Street. The consensus rating for nLIGHT is a strong buy, with analysts setting an average price target of $82.13. Out of the eight analysts providing opinions, the highest target stands at $100.00, while the most conservative estimate is $55.00.

Directed Energy and Laser Solutions

nLIGHT, Inc. designs and manufactures high-power semiconductor and fiber lasers. These advanced systems are used in aerospace, defense, industrial processing, and microfabrication. The company's specialized fiber amplifiers and beam control systems are critical components in directed-energy weapons and industrial cutting systems, placing the firm at the intersection of defense technology and advanced manufacturing.

Looking Ahead for nLIGHT Investors

Shareholders are looking forward to the next financial report, set for November 5, 2026, which will give shareholders a clearer look at the company's progress toward profitability and its latest defense contract wins. Market participants should keep in mind that these disclosures show historical holdings rather than current day-to-day trading. Form 13F filings are backward-looking and represent a snapshot of holdings on a specific date, meaning Driehaus Capital Management may have adjusted its position since the reporting period ended.