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

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been assigned a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $53.4545.

ALGM has been the topic of a number of recent research reports. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. UBS Group increased their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. TD Cowen dropped their price target on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Barclays cut Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target for the company. in a research note on Monday, July 20th.

Insider Buying and Selling at Allegro MicroSystems

In other 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 sale, the senior vice president directly owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard Madormo sold 5,000 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the completion of the transaction, the senior vice president owned 69,687 shares in the company, valued at $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 sold 12,502 shares of company stock valued at $599,170 in the last three months. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Allegro MicroSystems

Several institutional investors and hedge funds have recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in Allegro MicroSystems in the 2nd quarter valued at about $31,000. First Bancorp Inc ME bought a new stake in shares of Allegro MicroSystems during the 2nd quarter worth approximately $49,000. Parallel Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 42.8% during the 1st 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. Harbor Investment Advisory LLC acquired a new stake in shares of Allegro MicroSystems during the 2nd quarter worth approximately $72,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Allegro MicroSystems during the 4th quarter worth approximately $34,000. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of NASDAQ ALGM opened at $44.39 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33. The firm has a market cap of $8.27 billion, a price-to-earnings ratio of 739.96, a P/E/G ratio of 1.40 and a beta of 1.94. The stock’s fifty day moving average price is $50.48 and its two-hundred day moving average price is $43.37. Allegro MicroSystems has a one year low of $22.41 and a one year high of $71.77.

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

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.