Allegro MicroSystems has surged more than 124% over the past six months, hitting a new 52-week high, driven by robust fiscal Q4 2026 earnings and record data center demand. On June 22, TD Cowen analyst Joshua Buchalter raised the price target on the stock from $55 to $70 and maintained a Buy rating, citing growing confidence in the company's long-term growth story and its exposure to two powerful secular trends. The firm sees Allegro well-positioned to deliver profitable mid-teens percentage growth over the long term. Earlier, on June 18, the company appointed Brian C. White as an independent director, bringing over 30 years of semiconductor and high-tech industry experience, including CFO roles at Ambarella, Maxim Integrated Products, and Integrated Device Technology.
Allegro Microsystems IncRecord data center demand and robust fiscal Q4 earnings drive growth.
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