$0.18 Earnings Per Share Expected for Allegro MicroSystems, Inc. (NASDAQ:ALGM) This Quarter

Equities analysts expect that Allegro MicroSystems, Inc. (NASDAQ:ALGM) will report $0.18 earnings per share for the current quarter, according to Zacks. Two analysts have made estimates for Allegro MicroSystems’ earnings. Allegro MicroSystems posted earnings of $0.13 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 38.5%. The firm is expected to announce its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that Allegro MicroSystems will report full year earnings of $0.77 per share for the current year, with EPS estimates ranging from $0.75 to $0.79. For the next fiscal year, analysts expect that the business will post earnings of $0.96 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Allegro MicroSystems.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Wednesday, October 27th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.18 by $0.02. The company had revenue of $193.60 million for the quarter, compared to analysts’ expectations of $188.04 million. Allegro MicroSystems had a return on equity of 12.64% and a net margin of 9.72%. The business’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.78 earnings per share.

Several equities analysts have recently issued reports on the company. Mizuho upped their price target on Allegro MicroSystems from $40.00 to $43.00 and gave the company a “buy” rating in a research note on Friday, October 29th. Barclays upped their price target on Allegro MicroSystems from $30.00 to $38.00 and gave the company an “overweight” rating in a research note on Friday, October 29th. Needham & Company LLC upped their price target on Allegro MicroSystems from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 29th. Zacks Investment Research lowered Allegro MicroSystems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 28th. Finally, Wells Fargo & Company increased their target price on Allegro MicroSystems from $36.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, September 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $39.00.

Shares of ALGM traded down $0.05 during trading hours on Friday, hitting $30.76. 567,005 shares of the stock traded hands, compared to its average volume of 928,541. The company has a current ratio of 5.04, a quick ratio of 4.16 and a debt-to-equity ratio of 0.04. Allegro MicroSystems has a 1-year low of $22.05 and a 1-year high of $38.28. The firm has a market capitalization of $5.84 billion, a PE ratio of 96.13 and a beta of 1.26. The business has a fifty day moving average of $33.14 and a 200-day moving average of $31.10.

In other Allegro MicroSystems news, Director Joseph R. Martin sold 20,000 shares of the stock in a transaction dated Friday, October 29th. The stock was sold at an average price of $33.41, for a total value of $668,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph R. Martin sold 13,000 shares of the stock in a transaction dated Tuesday, November 23rd. The stock was sold at an average price of $30.61, for a total value of $397,930.00. The disclosure for this sale can be found here. Insiders sold 9,198,575 shares of company stock valued at $279,196,212 over the last 90 days. Corporate insiders own 26.90% of the company’s stock.

Large investors have recently bought and sold shares of the stock. NN Investment Partners Holdings N.V. bought a new position in shares of Allegro MicroSystems during the third quarter worth about $29,000. Group One Trading L.P. grew its holdings in shares of Allegro MicroSystems by 118.0% during the second quarter. Group One Trading L.P. now owns 1,300 shares of the company’s stock worth $36,000 after buying an additional 8,541 shares in the last quarter. Private Capital Group LLC grew its holdings in shares of Allegro MicroSystems by 24.8% during the third quarter. Private Capital Group LLC now owns 2,403 shares of the company’s stock worth $77,000 after buying an additional 478 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Allegro MicroSystems by 355,700.0% during the second quarter. Metropolitan Life Insurance Co NY now owns 3,558 shares of the company’s stock worth $99,000 after buying an additional 3,557 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in shares of Allegro MicroSystems during the second quarter worth about $104,000. Institutional investors and hedge funds own 44.58% of the company’s stock.

About Allegro MicroSystems

Allegro MicroSystems, Inc designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, and regulator and LED driver ICs, as well as photonic and 3D sensing components, including photodiodes, eye-safe lasers and rangefinders, and readout ICs for LiDAR applications.

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