Allegro Microsystems is trading 8.6% up at $39.51 after RBC Capital initiated coverage on October 2, 2026, with an Outperform rating. - RBC set a $50 price target and highlighted the company’s automotive content expansion and data-center growth outlook. - The supplied price context shows a move from the prior close of $36.38. Semiconductor optimism following Micron’s strong results and positive broad-market trading may also be supportive.