Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have received an average rating of “Moderate Buy” from the twelve analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.7778.

Several research firms recently weighed in on ALGM. UBS Group increased their price target on shares of Allegro MicroSystems from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 31st. Evercore ISI boosted their target price on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Mizuho set a $38.00 price target on shares of Allegro MicroSystems in a research note on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allegro MicroSystems in a report on Monday, December 29th. Finally, Barclays upped their price objective on Allegro MicroSystems from $30.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, October 31st.

Institutional Investors Weigh In On Allegro MicroSystems

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in Allegro MicroSystems by 136.6% in the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock valued at $27,818,000 after acquiring an additional 3,556,410 shares during the period. Alliancebernstein L.P. raised its position in shares of Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after purchasing an additional 1,806,183 shares during the period. Invesco Ltd. raised its position in shares of Allegro MicroSystems by 29.3% in the second quarter. Invesco Ltd. now owns 6,254,575 shares of the company’s stock valued at $213,844,000 after purchasing an additional 1,418,934 shares during the period. Norges Bank purchased a new stake in shares of Allegro MicroSystems during the 2nd quarter valued at approximately $48,138,000. Finally, Millennium Management LLC boosted its holdings in Allegro MicroSystems by 81.4% in the 1st quarter. Millennium Management LLC now owns 2,402,978 shares of the company’s stock worth $60,387,000 after buying an additional 1,078,025 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM opened at $28.45 on Thursday. Allegro MicroSystems has a twelve month low of $16.38 and a twelve month high of $38.45. The stock’s 50 day moving average price is $26.91 and its 200-day moving average price is $30.02. The company has a market capitalization of $5.27 billion, a PE ratio of -177.81 and a beta of 1.61. The company has a quick ratio of 2.48, a current ratio of 3.89 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Allegro MicroSystems had a positive return on equity of 2.90% and a negative net margin of 3.60%.The company had revenue of $214.29 million during the quarter, compared to the consensus estimate of $210.75 million. During the same period last year, the business posted $0.08 earnings per share. Allegro MicroSystems’s revenue was up 14.4% on a year-over-year basis. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. On average, equities analysts anticipate that Allegro MicroSystems will post 0.01 EPS for the current year.

About Allegro MicroSystems

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.