Allegro MicroSystems (NASDAQ:ALGM) Price Target Raised to $39.00

Allegro MicroSystems (NASDAQ:ALGM) had its price objective upped by Bank of America from $36.00 to $39.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also weighed in on ALGM. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allegro MicroSystems in a research note on Monday, December 29th. Mizuho set a $38.00 price target on shares of Allegro MicroSystems in a research note on Tuesday, December 16th. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. UBS Group increased their price objective on shares of Allegro MicroSystems from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Evercore ISI increased their price target on Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.89.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $32.99 on Wednesday. The firm’s 50 day simple moving average is $28.12 and its 200 day simple moving average is $29.90. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of -206.19 and a beta of 1.61. The company has a current ratio of 3.89, a quick ratio of 2.48 and a debt-to-equity ratio of 0.30. Allegro MicroSystems has a 1 year low of $16.38 and a 1 year high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.01. The firm had revenue of $214.29 million during the quarter, compared to analysts’ expectations of $210.75 million. Allegro MicroSystems had a positive return on equity of 2.90% and a negative net margin of 3.60%.The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 earnings per share. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. As a group, research analysts expect that Allegro MicroSystems will post 0.01 earnings per share for the current fiscal year.

Institutional Trading of Allegro MicroSystems

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its holdings in Allegro MicroSystems by 2.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company’s stock worth $430,000 after buying an additional 381 shares during the period. UMB Bank n.a. raised its position in shares of Allegro MicroSystems by 29.2% during the second quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after acquiring an additional 415 shares during the last quarter. Hantz Financial Services Inc. lifted its stake in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after acquiring an additional 419 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Allegro MicroSystems by 2.1% in the third quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company’s stock worth $657,000 after acquiring an additional 466 shares during the period. Finally, Retirement Systems of Alabama boosted its holdings in Allegro MicroSystems by 0.3% in the second quarter. Retirement Systems of Alabama now owns 200,781 shares of the company’s stock valued at $6,865,000 after acquiring an additional 668 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

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.