Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives $53.45 Average Price Target from Brokerages

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $53.4545.

ALGM has been the topic of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price target on shares of Allegro MicroSystems in a research note on Thursday, May 7th. UBS Group upped their price objective on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Evercore restated an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research note on Friday, May 8th. Needham & Company LLC lifted their target price on Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd.

Insider Buying and Selling

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president owned 31,052 shares in the company, valued at $1,378,398.28. This trade represents a 6.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the sale, the senior vice president owned 69,687 shares in the company, valued at $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALGM. Transamerica Financial Advisors LLC acquired a new stake in shares of Allegro MicroSystems during the 2nd quarter valued at $27,000. Rakuten Securities Inc. purchased a new position in Allegro MicroSystems during the 2nd quarter valued at about $31,000. Parallel Advisors LLC lifted its position in Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after buying an additional 302 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Allegro MicroSystems in the 4th quarter worth about $34,000. Finally, CIBC Private Wealth Group LLC increased its holdings in Allegro MicroSystems by 14,844.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after buying an additional 1,336 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Down 3.0%

NASDAQ ALGM opened at $37.19 on Friday. The stock has a market cap of $6.93 billion, a PE ratio of 619.94, a P/E/G ratio of 1.21 and a beta of 1.94. Allegro MicroSystems has a fifty-two week low of $22.41 and a fifty-two week high of $71.77. The business has a 50 day moving average price of $49.92 and a two-hundred day moving average price of $43.49. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company had revenue of $259.24 million for the quarter, compared to analyst estimates of $251.44 million. During the same quarter last year, the firm posted $0.09 earnings per share. The business’s quarterly revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, sell-side analysts predict that Allegro MicroSystems will post 0.65 EPS for the current fiscal 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.