Allegro MicroSystems Being The Leader In Critical Magnetic Sensors For EVs Justifies Premium Valuation: Analyst

Bank of America Securities (BofA) analyst Vivek Arya has reinstated its coverage of Allegro Microsystems (NASDAQ:ALGM) with a Buy rating and a price forecast of $38 per share. Arya highlighted that Allegro is the leader in producing magnetic sensors critical to the operation of electric vehicles…