Movement Alert｜Allegro MicroSystems, Inc. Rises 5.7% in Regular Trading, Post-Earnings Strength Continues

Market Focus00:13

On November 3, Allegro MicroSystems, Inc. rose 5.7% in Regular Trading, trading at $32.395/share, with turnover of $23.6052 million.

The move followed continued digestion of the company’s recent quarterly results and forward guidance, both of which came in above market expectations.

For fiscal second quarter, adjusted EPS was $0.26 versus the $0.25 consensus, while revenue reached $276.9 million versus the expected $270.9 million. For fiscal third quarter, the company guided to adjusted EPS of $0.25 to $0.29 and revenue of $278 million to $288 million, compared with market expectations of $0.27 and $276.7 million, respectively. Separately, UBS lowered its price target to $48 from $50 while maintaining a Buy rating, indicating that analyst support remained constructive despite the target trim.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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