Allegro MicroSystems (NASDAQ:ALGM) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen cut shares of Allegro MicroSystems (NASDAQ:ALGM) from a buy rating to a hold rating in a research note released on Saturday.

Other analysts also recently issued research reports about the stock. Barclays raised their price objective on shares of Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Evercore ISI raised their price target on Allegro MicroSystems from $37.00 to $49.00 and gave the stock an “outperform” rating in a research note on Friday, October 31st. Weiss Ratings restated a “sell (e+)” rating on shares of Allegro MicroSystems in a report on Monday, December 29th. Cowen reaffirmed a “buy” rating on shares of Allegro MicroSystems in a research report on Friday, October 31st. Finally, UBS Group increased their target price on Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.78.

Allegro MicroSystems Stock Down 0.0%

NASDAQ ALGM opened at $31.29 on Friday. The company has a quick ratio of 2.48, a current ratio of 3.89 and a debt-to-equity ratio of 0.30. Allegro MicroSystems has a 52 week low of $16.38 and a 52 week high of $38.45. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of -195.56 and a beta of 1.61. The company has a fifty day moving average of $26.97 and a two-hundred day moving average of $30.01.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 3.60% and a positive return on equity of 2.90%. The business had revenue of $214.29 million for the quarter, compared to the consensus estimate of $210.75 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. On average, analysts predict that Allegro MicroSystems will post 0.01 earnings per share for the current year.

Institutional Trading of Allegro MicroSystems

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its stake in Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after acquiring an additional 419 shares during the period. Quent Capital LLC bought a new stake in shares of Allegro MicroSystems in the 3rd quarter valued at about $28,000. UMB Bank n.a. lifted its position in shares of Allegro MicroSystems by 29.2% in the 2nd quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after purchasing an additional 415 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Allegro MicroSystems by 158.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock worth $76,000 after purchasing an additional 1,356 shares during the period. Finally, NewEdge Advisors LLC boosted its stake in shares of Allegro MicroSystems by 12,315.0% during the third quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after purchasing an additional 2,463 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors.

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.