Initiated Overweight X

ALGM Allegro Microsystems

Wells Fargo

$23

Initiated Buy X

ALGM Allegro Microsystems

Loop Capital

$30

Initiated Equal-Weight X

ALGM Allegro Microsystems

Morgan Stanley

$21

Initiated Buy X

ALGM Allegro Microsystems

UBS

$33

Initiated Buy X

ALGM Allegro Microsystems

Jefferies

$37

Reiterated Buy X

ALGM Allegro Microsystems

TD Cowen

$35 $32

Initiated Outperform X

ALGM Allegro Microsystems

Evercore ISI

$36

Reiterated Outperform X

ALGM Allegro Microsystems

TD Cowen

$32 $35

Upgrades Peer Perform Outperform X

ALGM Allegro Microsystems

Wolfe Research

$35

Initiated Neutral X

ALGM Allegro Microsystems

BofA Securities

$36

Initiated Peer Perform X

ALGM Allegro Microsystems

Wolfe Research

Initiated Outperform X

ALGM Allegro Microsystems

Cowen

$30

ALGM  Allegro MicroSystems, Inc.

Allegro MicroSystems, Inc. designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; power ICs comprising motor driver ICs, and regulator and LED driver ICs; and photonic and 3D sensing components, including photodiodes, eye-safe lasers, and readout ICs for LiDAR applications. The company sells its products to original equipment manufacturers and suppliers primarily in the automotive and industrial markets through its direct sales force, third party distributors, independent sales representatives, and consignment. It operates in the United States, rest of the Americas, Europe, Japan, Greater China, South Korea, and other Asian markets. The company was founded in 1990 and is headquartered in Manchester, New Hampshire. Allegro MicroSystems, Inc. is a subsidiary of Sanken Electric Co., Ltd.