Allegro MicroSystems, Inc. (ALGM) – What Are Analysts Saying About This Stock?

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has earned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation, ten have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $53.17.

Several research analysts recently weighed in on the stock. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Needham & Company LLC raised their price target on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Royal Bank Of Canada started coverage on Allegro MicroSystems in a research report on Friday, October 2nd. They issued an “outperform” rating and a $50.00 price objective on the stock. Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a research note on Monday, July 20th. Finally, Morgan Stanley increased their target price on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st.

Insiders Place Their Bets

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the company’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 value of $101,431.15. Following the completion of the transaction, the senior vice president directly owned 31,052 shares in the company, valued at $1,378,398.28. This represents a 6.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.

Hedge Funds Weigh In On Allegro MicroSystems

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Allegro MicroSystems in the 2nd quarter worth about $966,975,000. Norges Bank purchased a new position in Allegro MicroSystems in the fourth quarter worth about $38,457,000. Bank of America Corp DE purchased a new position in Allegro MicroSystems in the second quarter worth about $64,171,000. Bank of New York Mellon Corp bought a new stake in Allegro MicroSystems during the second quarter worth approximately $49,914,000. Finally, Analog Century Management LP increased its stake in Allegro MicroSystems by 60.9% during the fourth quarter. Analog Century Management LP now owns 1,890,072 shares of the company’s stock worth $49,860,000 after acquiring an additional 715,119 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Trading Down 1.9%

Allegro MicroSystems stock opened at $35.57 on Friday. Allegro MicroSystems has a 12-month low of $22.41 and a 12-month high of $71.77. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 592.93, a P/E/G ratio of 1.14 and a beta of 1.99. The firm has a 50 day moving average of $37.70 and a 200 day moving average of $43.31. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30.

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

About Allegro MicroSystems

Allegro MicroSystems, Inc (NASDAQ:ALGM) develops and manufactures semiconductor solutions that enable motion, power management and energy efficiency in automotive and industrial applications. The company specializes in sensor integrated circuits and power semiconductor devices designed to monitor, control and improve the performance of electronic systems.

Its product portfolio includes magnetic sensors for detecting position, speed, current and angle, as well as power management integrated circuits, motor drivers, LED driver ICs and other application-specific solutions.