🟢 Allegro Microsystems is trading 4.32% up in pre-market after RBC Capital initiates coverage at Outperform

Allegro Microsystems is trading at $37.95, up 4.32% in pre-market after RBC Capital initiated coverage with an Outperform rating and a $50 price target on October 2.

• Semiconductor-sector strength after Micron’s results may also be supporting shares; market coverage described the move as sector-driven.
• No new Allegro announcement explaining the move was identified in the supplied alert context.