Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives $39.00 Average PT from Analysts

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have been assigned an average rating of “Moderate Buy” from the twelve brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $39.00.

Several analysts recently issued reports on the stock. Needham & Company LLC boosted their target price on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, July 31st. Zacks Research upgraded shares of Allegro MicroSystems to a “hold” rating in a research note on Monday, August 11th. Mizuho boosted their price objective on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. UBS Group upped their price objective on Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, TD Cowen raised their target price on Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, October 31st.

Allegro MicroSystems Stock Down 2.3%

ALGM stock opened at $24.71 on Wednesday. Allegro MicroSystems has a fifty-two week low of $16.38 and a fifty-two week high of $38.45. The business’s 50-day moving average is $29.15 and its two-hundred day moving average is $29.77. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. The company has a market cap of $4.57 billion, a price-to-earnings ratio of -66.78 and a beta of 1.72.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The business had revenue of $214.29 million during the quarter, compared to the consensus estimate of $210.75 million. During the same period in the previous year, the company posted $0.08 EPS. The business’s quarterly revenue was up 14.4% compared to the same quarter last year. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. As a group, analysts forecast that Allegro MicroSystems will post 0.01 earnings per share for the current year.

Insider Activity at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the transaction, the chief accounting officer directly owned 17,300 shares of the company’s stock, valued at $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegro MicroSystems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Allegro MicroSystems by 2.7% during the third quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company’s stock valued at $430,000 after purchasing an additional 381 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Allegro MicroSystems by 29.2% in the second quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after purchasing an additional 415 shares in the last quarter. Hantz Financial Services Inc. raised its position in shares of Allegro MicroSystems by 86.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after purchasing an additional 419 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Allegro MicroSystems by 2.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company’s stock valued at $657,000 after buying an additional 466 shares in the last quarter. Finally, Retirement Systems of Alabama lifted its stake in shares of Allegro MicroSystems by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 200,781 shares of the company’s stock valued at $6,865,000 after buying an additional 668 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

About Allegro MicroSystems

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.