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Allegro MicroSystems Soars on Data Center Boom
28 Jun
Summary
- Allegro MicroSystems stock surged over 124% in six months.
- TD Cowen raised its price target to $70, maintaining a Buy.
- Brian C. White joined the Board with extensive semiconductor experience.
Allegro MicroSystems, Inc. (NASDAQ:ALGM) has achieved significant growth, with its stock price soaring by over 124% in the last six months, culminating in a new 52-week high. This impressive performance was primarily fueled by strong fiscal Q4 2026 earnings and record demand within the data center sector.
On June 22, 2026, TD Cowen analyst Joshua Buchalter increased the stock's price target from $55 to $70, reaffirming a Buy rating. The firm's updated financial model indicates increased confidence in Allegro's sustained long-term growth, anticipating mid-teens percentage growth driven by key secular trends.
Further bolstering its leadership, Allegro MicroSystems announced on June 18, 2026, the appointment of Brian C. White as an independent director to its Board, effective June 17, 2026. White brings over three decades of experience in the semiconductor and high-tech industries, having previously served as CFO for several prominent chip companies.
