Evercore ISI Forecasts Strong Price Appreciation for Allegro MicroSystems (NASDAQ:ALGM) Stock

Allegro MicroSystems (NASDAQ:ALGM) had its price target hoisted by stock analysts at Evercore ISI from $37.00 to $49.00 in a report released on Friday, MarketBeat reports. The brokerage currently has an “outperform” rating on the stock. Evercore ISI’s price objective indicates a potential upside of 63.77% from the company’s previous close.

Several other research firms have also recently weighed in on ALGM. Bank of America lowered their price target on shares of Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Barclays increased their price objective on Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC increased their price objective on Allegro MicroSystems from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Wells Fargo & Company reiterated an “overweight” rating and set a $42.00 price objective (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Finally, Zacks Research upgraded Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $38.10.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $29.92 on Friday. Allegro MicroSystems has a 52 week low of $16.38 and a 52 week high of $38.45. The company has a market capitalization of $5.54 billion, a price-to-earnings ratio of -80.86 and a beta of 1.72. The company has a 50-day simple moving average of $29.97 and a 200 day simple moving average of $29.24. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $214.29 million for the quarter, compared to analysts’ expectations of $210.75 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 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 EPS. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. On average, sell-side analysts predict that Allegro MicroSystems will post 0.01 earnings per share for the current year.

Insider Activity

In other news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the sale, the chief accounting officer directly owned 17,300 shares of the company’s stock, valued at approximately $567,613. This represents a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Allegro MicroSystems

Large investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Allegro MicroSystems by 18.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company’s stock worth $668,000 after purchasing an additional 4,185 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Allegro MicroSystems by 144.3% during the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company’s stock worth $104,000 after purchasing an additional 2,454 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Allegro MicroSystems in the second quarter valued at about $481,000. Envestnet Asset Management Inc. boosted its stake in Allegro MicroSystems by 36.7% in the first quarter. Envestnet Asset Management Inc. now owns 104,966 shares of the company’s stock valued at $2,638,000 after buying an additional 28,179 shares in the last quarter. Finally, KLP Kapitalforvaltning AS boosted its stake in Allegro MicroSystems by 10.4% in the second quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock valued at $940,000 after buying an additional 2,600 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

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.