Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have been given a consensus rating of “Moderate Buy” by the eleven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $36.7778.

A number of equities analysts have weighed in on the stock. TD Cowen decreased their price target on shares of Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Needham & Company LLC lifted their price target on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 31st. UBS Group decreased their price target on shares of Allegro MicroSystems to $42.00 and set a “buy” rating on the stock in a report on Monday. Finally, Mizuho lifted their price target on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, August 1st.

Allegro MicroSystems Stock Down 1.1%

ALGM stock opened at $30.70 on Friday. The stock has a market capitalization of $5.68 billion, a P/E ratio of -82.97 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. Allegro MicroSystems has a one year low of $16.38 and a one year high of $38.45. The company has a 50 day moving average price of $30.03 and a two-hundred day moving average price of $28.68.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $203.41 million during the quarter, compared to analysts’ expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. Allegro MicroSystems’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, sell-side analysts expect that Allegro MicroSystems will post 0.01 EPS for the current year.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total value of $271,207.46. Following the transaction, the chief accounting officer owned 17,300 shares in the company, valued at $567,613. This trade represents a 32.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Allegro MicroSystems

Several hedge funds and other institutional investors have recently made changes to their positions in ALGM. GAMMA Investing LLC lifted its holdings in shares of Allegro MicroSystems by 144.3% during the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company’s stock valued at $104,000 after acquiring an additional 2,454 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Allegro MicroSystems during the 1st quarter valued at $805,000. Fifth Third Bancorp lifted its holdings in shares of Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock valued at $33,000 after acquiring an additional 504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Allegro MicroSystems by 18.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company’s stock valued at $668,000 after acquiring an additional 4,185 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Allegro MicroSystems by 1,647.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 394,572 shares of the company’s stock valued at $10,330,000 after acquiring an additional 371,987 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc, together with its subsidiaries, 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, regulator and LED driver ICs, and isolated gate drivers.