Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives $53.45 Average Target Price from Analysts

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $53.4545.

ALGM has been the topic of several recent analyst reports. Needham & Company LLC lifted their price objective on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Mizuho lowered their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Morgan Stanley lifted their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Barclays cut shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target for the company. in a report on Monday, July 20th.

Allegro MicroSystems Stock Performance

ALGM stock opened at $35.27 on Tuesday. Allegro MicroSystems has a twelve month low of $22.41 and a twelve month high of $71.77. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.57 billion, a P/E ratio of 587.93, a price-to-earnings-growth ratio of 1.13 and a beta of 1.91. The business’s fifty day moving average is $43.28 and its 200-day moving average is $43.07.

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

Insiders Place Their Bets

In related news, SVP Erin Hagen sold 2,285 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were 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 owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Transamerica Financial Advisors LLC acquired a new position in Allegro MicroSystems in the 2nd quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in Allegro MicroSystems during the second quarter worth approximately $31,000. Parallel Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares during the period. Kestra Advisory Services LLC bought a new stake in shares of Allegro MicroSystems during the fourth quarter worth approximately $34,000. Finally, Continuum Advisory LLC acquired a new position in shares of Allegro MicroSystems in the second quarter valued at approximately $35,000. 56.45% of the stock is owned by institutional investors and hedge funds.

About Allegro MicroSystems

Allegro MicroSystems, Inc develops and manufactures semiconductor solutions that enable motion control, energy efficiency and intelligent system monitoring. The company primarily serves the automotive and industrial markets, providing integrated circuits and sensor technologies used in vehicles, factory automation, appliances, power systems and other electronic equipment.

Its product portfolio includes magnetic sensor ICs for measuring position, speed, current and motion; power management and regulation devices; motor driver ICs; LED driver solutions; and other application-specific integrated circuits.