Allegro MicroSystems (NASDAQ:ALGM) Trading Up 8.1% – Time to Buy?

Allegro MicroSystems, Inc. (NASDAQ:ALGM) shares rose 8.1% during trading on Tuesday . The company traded as high as $31.01 and last traded at $30.7460. Approximately 238,785 shares were traded during trading, a decline of 84% from the average daily volume of 1,535,285 shares. The stock had previously closed at $28.45.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on ALGM shares. Cowen reiterated a “buy” rating on shares of Allegro MicroSystems in a report on Friday, October 31st. TD Cowen raised their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. UBS Group lifted their price objective on shares of Allegro MicroSystems from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Allegro MicroSystems in a research note on Monday, December 29th. Finally, Evercore ISI raised their price target on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.78.

Allegro MicroSystems Trading Up 11.5%

The business has a fifty day moving average of $26.91 and a 200-day moving average of $30.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.48 and a current ratio of 3.89. The company has a market capitalization of $5.87 billion, a P/E ratio of -198.34 and a beta of 1.61.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 3.60% and a positive return on equity of 2.90%. The firm had revenue of $214.29 million for the quarter, compared to the consensus estimate of $210.75 million. During the same quarter in the prior year, the company posted $0.08 earnings per share. The business’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. Analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Allegro MicroSystems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hantz Financial Services Inc. raised its stake in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after purchasing an additional 419 shares during the last quarter. Quent Capital LLC bought a new stake in Allegro MicroSystems during the third quarter worth $28,000. UMB Bank n.a. raised its position in Allegro MicroSystems by 29.2% in the 2nd quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock valued at $63,000 after buying an additional 415 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Allegro MicroSystems by 12,315.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after acquiring an additional 2,463 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in Allegro MicroSystems by 158.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock valued at $76,000 after acquiring an additional 1,356 shares in the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Company Profile

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.