Allegro MicroSystems’ (ALGM) “Sell (D)” Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (d) rating on shares of Allegro MicroSystems (NASDAQ:ALGM) in a report released on Wednesday morning,Weiss Ratings reports.

ALGM has been the topic of several other reports. Barclays boosted their price target on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Morgan Stanley cut their price target on shares of Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Wells Fargo & Company restated an “overweight” rating and set a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Finally, Mizuho boosted their price target on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $36.78.

Allegro MicroSystems Stock Down 6.6%

Shares of NASDAQ ALGM opened at $25.92 on Wednesday. The stock has a market capitalization of $4.80 billion, a P/E ratio of -70.05 and a beta of 1.72. The company has a 50-day moving average price of $30.31 and a 200-day moving average price of $28.43. Allegro MicroSystems has a 1 year low of $16.38 and a 1 year high of $38.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $203.41 million during the quarter, compared to analysts’ expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. On average, equities research analysts forecast that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total value of $271,207.46. Following the sale, the chief accounting officer owned 17,300 shares of the company’s stock, valued at approximately $567,613. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Allegro MicroSystems

Several hedge funds have recently added to or reduced their stakes in ALGM. GAMMA Investing LLC raised its position in Allegro MicroSystems by 6,038.4% in the first quarter. GAMMA Investing LLC now owns 104,415 shares of the company’s stock worth $2,624,000 after acquiring an additional 102,714 shares during the period. Rhumbline Advisers raised its position in shares of Allegro MicroSystems by 1.4% in the first quarter. Rhumbline Advisers now owns 330,263 shares of the company’s stock valued at $8,299,000 after purchasing an additional 4,428 shares during the period. UMB Bank n.a. raised its position in shares of Allegro MicroSystems by 68.6% in 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 during the period. SG Americas Securities LLC bought a new stake in shares of Allegro MicroSystems in the first quarter valued at approximately $805,000. Finally, Fifth Third Bancorp raised its position in shares of Allegro MicroSystems by 63.7% in the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock valued at $33,000 after purchasing an additional 504 shares during the period. Institutional investors own 56.45% of the company’s stock.

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.