Allegro MicroSystems (ALGM) Surges 10.8%: Is This an Indication of Further Gains?

Group 1 - Allegro MicroSystems, Inc. (ALGM) shares increased by 10.8% to close at $31.53, driven by higher trading volume compared to typical sessions, despite a 1% loss over the past four weeks [1] - The growth in automotive and data center revenues is attributed to advancements in AI-led server architectures and e-mobility solutions [1] - The company is expected to report quarterly earnings of $0.14 per share, reflecting a year-over-year increase of 100%, with revenues projected at $224.41 million, up 26.2% from the previous year [2] Group 2 - The consensus EPS estimate for Allegro MicroSystems has remained unchanged over the last 30 days, indicating that stock price movements may not continue without trends in earnings estimate revisions [3] - Allegro MicroSystems holds a Zacks Rank of 3 (Hold) within the Zacks Electronics - Semiconductors industry [4] - Another company in the same industry, Nova Ltd. (NVMI), closed 2.2% higher at $391.31, with a 15% return over the past month [4]