🟢 ALGM is trading 4.3% up today after Mizuho and TD Cowen raise price targets

ALGM is trading at $72.60 (+4.28%) in after-hours trading, extending a multi-day rally.

• The surge follows Mizuho and TD Cowen raising their price targets on the stock today, citing strong demand for power semiconductors from AI data centers and the automotive sector.
• Mizuho increased its target to $67 from $54, while TD Cowen lifted its target to $70 from $55.
• This contributed to significant gains of 14.65% on June 29 and 4.90% on June 30, supported by broader market strength in the semiconductor sector, with the Nasdaq Composite up 1.52%.