Brokerages Set Allegro MicroSystems, Inc. (NASDAQ:ALGM) PT at $53.45

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $53.4545.

Several equities research analysts have recently weighed in on the stock. TD Cowen decreased their target price on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Barclays cut Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target on the stock. in a research report on Monday, July 20th. Morgan Stanley upped their price objective on Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, Benchmark assumed coverage on Allegro MicroSystems in a research note on Wednesday, August 12th. They issued a “buy” rating and a $60.00 target price on the stock.

Allegro MicroSystems Stock Performance

Shares of Allegro MicroSystems stock opened at $36.31 on Tuesday. The firm’s fifty day simple moving average is $42.89 and its 200-day simple moving average is $43.03. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 605.27, a PEG ratio of 1.14 and a beta of 1.91. Allegro MicroSystems has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The firm had revenue of $259.24 million during the quarter, compared to the consensus estimate of $251.44 million. During the same quarter in the prior year, the firm earned $0.09 EPS. Allegro MicroSystems’s revenue for the quarter was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, equities analysts forecast that Allegro MicroSystems will post 0.65 earnings per share for the current year.

Insider Activity at Allegro MicroSystems

In related news, SVP Erin Hagen sold 2,285 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares of the company’s stock, valued at $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegro MicroSystems

Institutional investors have recently bought and sold shares of the company. Transamerica Financial Advisors LLC acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter worth $27,000. Rakuten Securities Inc. purchased a new stake in shares of Allegro MicroSystems in the second quarter valued at about $31,000. Parallel Advisors LLC increased its stake in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Allegro MicroSystems during the fourth quarter worth about $34,000. Finally, Continuum Advisory LLC purchased a new position in Allegro MicroSystems during the second quarter worth about $35,000. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc develops and manufactures semiconductor solutions that enable motion control, energy efficiency and intelligent system monitoring. The company primarily serves the automotive and industrial markets, providing integrated circuits and sensor technologies used in vehicles, factory automation, appliances, power systems and other electronic equipment.

Its product portfolio includes magnetic sensor ICs for measuring position, speed, current and motion; power management and regulation devices; motor driver ICs; LED driver solutions; and other application-specific integrated circuits.