Allegro MicroSystems (NASDAQ:ALGM) Cut to “Equal Weight” at Barclays

Allegro MicroSystems (NASDAQ:ALGM) was downgraded by analysts at Barclays from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, MarketBeat Ratings reports. They presently have a $48.00 target price on the stock. Barclays‘s price objective points to a potential upside of 3.27% from the company’s current price.

Several other research firms also recently weighed in on ALGM. Needham & Company LLC raised their price objective on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. TD Cowen decreased their target price on Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. UBS Group raised their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company lifted their price target on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.20.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM opened at $46.48 on Monday. The stock has a market capitalization of $8.66 billion, a price-to-earnings ratio of -516.39 and a beta of 1.90. Allegro MicroSystems has a 52 week low of $22.41 and a 52 week high of $71.77. The firm has a 50-day moving average price of $51.58 and a 200 day moving average price of $41.48. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company had revenue of $243.19 million for the quarter, compared to analyst estimates of $235.94 million. During the same period in the prior year, the business posted $0.06 earnings per share. The firm’s revenue for the quarter was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities research analysts anticipate that Allegro MicroSystems will post 0.77 EPS for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the sale, the senior vice president owned 69,687 shares in the company, valued at approximately $3,673,898.64. This represents a 6.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total value of $234,138.96. Following the transaction, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at $588,197.28. The trade was a 28.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,607 shares of company stock worth $3,213,714 in the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Trading of Allegro MicroSystems

Large investors have recently made changes to their positions in the stock. Parallel Advisors LLC increased its position in Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after purchasing an additional 302 shares in the last quarter. Harbor Investment Advisory LLC purchased a new position in Allegro MicroSystems in the 2nd quarter valued at about $72,000. Kestra Advisory Services LLC purchased a new position in Allegro MicroSystems in the 4th quarter valued at about $34,000. CIBC Private Wealth Group LLC boosted its stake in shares of Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after purchasing an additional 1,336 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

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.