Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives $55.20 Average PT from Brokerages

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been assigned an average rating of “Moderate Buy” from the twelve analysts that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $55.20.

A number of brokerages have recently commented on ALGM. TD Cowen dropped their price target on Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. UBS Group raised their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Mizuho lifted their price objective on Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Finally, Wells Fargo & Company boosted their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, May 8th.

Allegro MicroSystems Stock Up 1.1%

Shares of Allegro MicroSystems stock opened at $49.87 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21. The company has a 50-day moving average of $51.69 and a 200 day moving average of $41.95. The firm has a market cap of $9.29 billion, a price-to-earnings ratio of -554.05 and a beta of 1.90. Allegro MicroSystems has a 1 year low of $22.41 and a 1 year high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $243.19 million for the quarter, compared to analyst estimates of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. Allegro MicroSystems’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, sell-side analysts anticipate that Allegro MicroSystems will post 0.77 earnings per share for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In other news, SVP Sharon Briansky sold 8,948 shares of Allegro MicroSystems stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $47.54, for a total value of $425,387.92. Following the completion of the transaction, the senior vice president owned 75,232 shares of the company’s stock, valued at $3,576,529.28. The trade was a 10.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the completion of the transaction, the senior vice president owned 69,687 shares in the company, valued at approximately $3,673,898.64. The trade was a 6.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,607 shares of company stock worth $3,213,714 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALGM. Lecap Asset Management Ltd. bought a new position in Allegro MicroSystems in the 4th quarter valued at approximately $783,000. Norges Bank purchased a new stake in Allegro MicroSystems during the 4th quarter valued at $38,457,000. Lightrock Netherlands B.V. bought a new stake in shares of Allegro MicroSystems in the 4th quarter worth $9,349,000. Altfest L J & Co. Inc. bought a new stake in shares of Allegro MicroSystems in the 4th quarter worth $430,000. Finally, Hel Ved Capital Management Ltd bought a new stake in shares of Allegro MicroSystems in the 4th quarter worth $1,658,000. Institutional investors 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.