nLIGHT is trading at $68.59 (4% down) as traders lock in gains following last week’s sharp rally fueled by a major U.S. defense laser weapon system contract.
- The stock recently surged on news of a $627 million Pentagon-related agreement and subsequent bullish analyst price target hikes.
- Today’s pullback appears to be driven by profit-taking after the contract-fueled spike, despite a broadly positive backdrop for the semiconductor sector.