Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have received a consensus rating of “Moderate Buy” from the nine ratings firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $28.56.

ALGM has been the subject of a number of research analyst reports. Mizuho upped their price objective on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, March 24th. Barclays decreased their price target on shares of Allegro MicroSystems from $30.00 to $22.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 22nd. UBS Group cut their price objective on shares of Allegro MicroSystems from $30.00 to $22.00 and set a “buy” rating for the company in a research report on Tuesday. Morgan Stanley increased their target price on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Allegro MicroSystems in a research note on Monday, February 24th.

Institutional Investors Weigh In On Allegro MicroSystems

Institutional investors and hedge funds have recently bought and sold shares of the company. Fifth Third Bancorp lifted its holdings in shares of Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock worth $33,000 after acquiring an additional 504 shares during the period. UMB Bank n.a. raised its position in Allegro MicroSystems by 68.6% during the first quarter. UMB Bank n.a. now owns 1,420 shares of the company’s stock valued at $36,000 after purchasing an additional 578 shares in the last quarter. TD Waterhouse Canada Inc. bought a new stake in Allegro MicroSystems during the fourth quarter worth $40,000. Venturi Wealth Management LLC bought a new position in shares of Allegro MicroSystems in the 4th quarter valued at $47,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Allegro MicroSystems during the 1st quarter worth $71,000. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of NASDAQ ALGM opened at $19.55 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $3.60 billion, a P/E ratio of -55.86 and a beta of 1.53. Allegro MicroSystems has a 12 month low of $16.38 and a 12 month high of $33.26. The stock has a 50 day moving average of $22.96 and a 200-day moving average of $22.72.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.