Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been given an average recommendation of “Moderate Buy” by the twelve research firms that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $55.60.

A number of equities research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday. Evercore reissued an “outperform” rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. TD Cowen lifted their target price on Allegro MicroSystems from $55.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, June 22nd. Finally, UBS Group lifted their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th.

Allegro MicroSystems Trading Down 9.2%

Shares of ALGM opened at $63.20 on Thursday. Allegro MicroSystems has a one year low of $22.41 and a one year high of $71.77. The stock has a 50-day moving average price of $49.92 and a 200 day moving average price of $39.30. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. The company has a market capitalization of $11.77 billion, a P/E ratio of -702.14 and a beta of 1.89.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data 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. The company had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.Allegro MicroSystems’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Sell-side analysts forecast that Allegro MicroSystems will post 0.77 EPS for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In other news, SVP Sharon Briansky sold 8,948 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.54, for a total value of $425,387.92. Following the transaction, the senior vice president directly owned 75,232 shares in the company, valued at approximately $3,576,529.28. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Roald Graham Webster sold 5,217 shares of Allegro MicroSystems stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the transaction, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,607 shares of company stock valued at $3,213,714 over the last quarter. Insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Allegro MicroSystems

Institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in shares of Allegro MicroSystems by 70.0% during the first quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock valued at $2,964,000 after purchasing an additional 48,554 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Allegro MicroSystems in the 1st quarter worth approximately $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Allegro MicroSystems by 31.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock worth $8,911,000 after purchasing an additional 85,607 shares during the last quarter. Prudential Financial Inc. boosted its position in Allegro MicroSystems by 24.0% during the 2nd quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock valued at $536,000 after purchasing an additional 3,040 shares during the period. Finally, First Trust Advisors LP boosted its position in Allegro MicroSystems by 5.4% during the 2nd quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock valued at $19,710,000 after purchasing an additional 29,531 shares during the period. 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.