Allegro MicroSystems (NASDAQ:ALGM) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Allegro MicroSystems (NASDAQ:ALGM) from a buy rating to a hold rating in a research report released on Saturday.

Other equities analysts have also recently issued research reports about the company. TD Cowen lowered their target price on Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating for the company in a report on Monday, July 13th. Needham & Company LLC lifted their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Mizuho boosted their price target on Allegro MicroSystems from $54.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. Wells Fargo & Company upped their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Barclays lowered shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a report on Monday, July 20th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus target price of $55.20.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $46.80 on Friday. The firm’s fifty day moving average price is $51.96 and its two-hundred day moving average price is $42.34. The stock has a market cap of $8.72 billion, a PE ratio of -519.94 and a beta of 1.90. Allegro MicroSystems has a fifty-two week low of $22.41 and a fifty-two week high of $71.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $235.94 million. During the same period in the prior year, the business earned $0.06 earnings per share. The company’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. On average, equities analysts expect that Allegro MicroSystems will post 0.77 EPS for the current fiscal year.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, Director Susan D. Lynch sold 16,711 shares of Allegro MicroSystems stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $45.46, for a total transaction of $759,682.06. Following the transaction, the director directly owned 12,805 shares of the company’s stock, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Doogue sold 30,089 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the sale, the chief executive officer owned 252,797 shares in the company, valued at $11,939,602.31. This trade represents a 10.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,607 shares of company stock worth $3,213,714 over the last 90 days. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Allegro MicroSystems

Several institutional investors have recently added to or reduced their stakes in the stock. Lecap Asset Management Ltd. bought a new stake in shares of Allegro MicroSystems in the 4th quarter valued at $783,000. Norges Bank bought a new position in Allegro MicroSystems during the fourth quarter worth $38,457,000. Lightrock Netherlands B.V. bought a new position in Allegro MicroSystems during the fourth quarter worth $9,349,000. Hel Ved Capital Management Ltd acquired a new position in Allegro MicroSystems in the fourth quarter valued at $1,658,000. Finally, Altfest L J & Co. Inc. acquired a new position in Allegro MicroSystems in the fourth quarter valued at $430,000. 56.45% of the stock is currently 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.