Allegro MicroSystems (NASDAQ:ALGM) Rating Lowered to Hold at Wall Street Zen

Allegro MicroSystems (NASDAQ:ALGM) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other research firms also recently commented on ALGM. UBS Group upped their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Evercore reissued an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a research report on Friday, May 8th. Mizuho lifted their price objective on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a report on Thursday, May 7th. Finally, Wells Fargo & Company increased their target price on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and an average target price of $55.20.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM opened at $46.03 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. Allegro MicroSystems has a twelve month low of $22.41 and a twelve month high of $71.77. The stock has a 50 day moving average of $51.85 and a two-hundred day moving average of $42.24. The stock has a market cap of $8.58 billion, a P/E ratio of -511.39 and a beta of 1.90.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The business had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The company’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, research analysts forecast that Allegro MicroSystems will post 0.77 earnings per share for the current year.

Insider Activity at Allegro MicroSystems

In other news, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the sale, the chief executive officer owned 252,797 shares of the company’s stock, valued at $11,939,602.31. The trade was a 10.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $45.46, for a total transaction of $759,682.06. Following the transaction, the director owned 12,805 shares in the company, valued at approximately $582,115.30. This trade represents a 56.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 68,607 shares of company stock worth $3,213,714 in the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Allegro MicroSystems

A number of hedge funds have recently added to or reduced their stakes in ALGM. Lecap Asset Management Ltd. purchased a new position in shares of Allegro MicroSystems during the 4th quarter worth approximately $783,000. Norges Bank purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at approximately $38,457,000. Lightrock Netherlands B.V. purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at approximately $9,349,000. Altfest L J & Co. Inc. purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at approximately $430,000. Finally, Hel Ved Capital Management Ltd acquired a new position in Allegro MicroSystems during the fourth quarter worth $1,658,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

About Allegro MicroSystems

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.