10 Best Electric Vehicle Supply Chain Stocks to Invest In

7. Allegro MicroSystems, Inc. (NASDAQ:ALGM)

On May 8, 2026, UBS analyst Timothy Arcuri raised the firm’s price target on Allegro MicroSystems, Inc. (NASDAQ:ALGM) to $55 from $52 while maintaining a Buy rating on the shares. Evercore ISI analyst Mark Lipacis also raised the firm’s price target on Allegro MicroSystems, Inc. (NASDAQ:ALGM) to $53 from $49 and maintained an Outperform rating.

Similarly, Jefferies analyst Blayne Curtis raised the firm’s price target on Allegro MicroSystems, Inc. (NASDAQ:ALGM) to $62 from $45 and maintained a Buy rating following the company’s Q1 results. The firm said Allegro’s data center business is becoming a more meaningful part of the investment story and cited higher peer multiples along with growing data center exposure for the target increase.

On May 7, 2026, Allegro MicroSystems, Inc. (NASDAQ:ALGM) reported fiscal Q4 EPS of 17c, versus the consensus estimate of 16c. Revenue totaled $243.19M, versus the consensus estimate of $235.94M. President and CEO Mike Doogue said the company finished fiscal 2026 with strong momentum, marking a fifth consecutive quarter of sales growth. Doogue added that full-year sales increased 23% to $890M while non-GAAP EPS more than doubled to $0.54. The company said results were driven by strength in automotive applications, including xEV and ADAS, as well as data center demand, which represented a record 14% of total Q4 sales.

Allegro MicroSystems, Inc. (NASDAQ:ALGM) said it remains confident in demand trends heading into fiscal 2027 and expects Q1 EPS of 19c-23c, versus the consensus estimate of 20c.

Allegro MicroSystems, Inc. (NASDAQ:ALGM) designs, develops, manufactures, and markets sensor integrated circuits and application-specific power ICs for motion control and energy-efficient systems.