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Allegro Stock Drops Amid Profit Taking | Business and Finance News
Description
Allegro MicroSystems took an eight percent hit as semiconductor stocks pulled back, but its year-to-date gain still sits at a whopping 139 percent — hitting a new 52-week high. Despite the dip, analysts from Mizuho and TD Cowen raised targets, citing strong demand from AI data centers and autos, plus healthy inventory-clearing by customers. The stock’s volatility is nothing new — 35 moves over 5% in the past year — but fundamentals remain solid, suggesting the market’s profit-taking may be temporary.
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