Mizuho lowered the firm’s price target on Allegro MicroSystems to $35 from $45 and keeps a Buy rating on the shares. The company’s guidance disappointed with inventory, but the long-term story is intact, the analyst tells investors in a research note.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ALGM:
- GHSP Leverages Allegro MicroSystems’ Technology to Shift the Future of Electric Vehicles with the Introduction of New eVibe System
- Allegro MicroSystems to Announce Fourth Quarter and Fiscal Year 2024 Financial Results
- Allegro MicroSystems initiated with an Outperform at Evercore ISI
- Allegro MicroSystems Board Changes and Director Compensation Update
- Allegro MicroSystems Appoints Jennie Raubacher to its Board of Directors
