Stock Track | Allegro MicroSystems Soars 12.27% Intraday on Strong Q3 Earnings Beat and Robust Guidance

Stock Track01-29

Allegro MicroSystems, Inc. (ALGM) saw its stock price surge 12.27% during intraday trading on Thursday, following the release of its third-quarter fiscal 2026 financial results that significantly exceeded analyst expectations.

The semiconductor company reported Q3 net sales of $229.21 million, surpassing the IBES estimate of $220.7 million and exceeding its own guidance range. Revenue showed robust year-over-year growth of 29%. Furthermore, non-GAAP diluted earnings per share more than doubled to $0.15, demonstrating strong profitability and beating the consensus estimate of $0.14. The performance was driven by substantial growth across key segments, with Automotive sales rising 28% annually, including a 46% surge in e-Mobility, and Industrial sales increasing 31%.

Management provided an optimistic outlook for the fourth quarter, expecting net sales between $230 million and $240 million. The company also highlighted growing bookings, backlog, and a significant annual increase in design wins, signaling continued momentum and investor confidence in its growth trajectory.

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