🔴 Allegro Microsystems is trading 5.2% down in pre-market as investors weigh Q3 sales outlook

Allegro Microsystems is trading 5.2% lower at $31.31 in pre-market, extending its October 29 decline as investors appear focused on the Q3 outlook despite higher Q2 sales.

• On October 29, shares fell 6.62% to $33.03.
• Fiscal Q2 sales were $277 million, up 29% year over year; Q3 sales guidance is $278 million to $288 million.
• A semiconductor-sector selloff after Intel’s weak forecast may also weigh on shares; the available evidence does not establish each factor’s contribution.