Allegro MicroSystems, Inc. (NASDAQ:ALGM) is one of the Best Growth Stocks to Buy and Hold for the Next Decade.
Allegro MicroSystems, Inc. (NASDAQ:ALGM) has surged more than 124% over the past 6 months, hitting a new 52-week high
Most of the gains have been driven by robust fiscal Q4 2026 earnings and record data center demand. Recently, on June 22, TD Cowen analyst Joshua Buchalter raised the price target on the stock from $55 to $70 and maintained a Buy rating on the shares. The firm updated its financial model based on growing confidence in Allegro’s long-term growth story.
TD Cowen believes the market will increasingly recognize the company’s strong exposure to two powerful secular growth trends. Moreover, the firm sees Allegro well-positioned to deliver profitable mid-teens percentage growth over the long term. Earlier, on June 18, Allegro MicroSystems announced the appointment of Brian C.