Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Average Recommendation of “Moderate Buy” by Brokerages

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been given an average recommendation of “Moderate Buy” by the twelve analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $55.20.

Several analysts have issued reports on ALGM shares. TD Cowen decreased their price target on shares of Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. UBS Group increased their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wells Fargo & Company boosted their price target on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded Allegro MicroSystems from a “buy” rating to a “hold” rating in a research report on Saturday.

Insider Buying and Selling at Allegro MicroSystems

In other news, CEO Michael Doogue sold 30,089 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the sale, the chief executive officer directly owned 252,797 shares in the company, valued at approximately $11,939,602.31. The trade was a 10.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the transaction, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at approximately $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 68,607 shares of company stock valued at $3,213,714 in the last quarter. 0.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Allegro MicroSystems

Hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC increased its stake in Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares during the period. Kestra Advisory Services LLC acquired a new position in Allegro MicroSystems in the fourth quarter worth about $34,000. CIBC Private Wealth Group LLC lifted its stake in Allegro MicroSystems by 14,844.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd lifted its stake in Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after purchasing an additional 1,908 shares in the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Stock Performance

Shares of Allegro MicroSystems stock opened at $46.03 on Monday. The company’s fifty day simple moving average is $51.85 and its 200-day simple moving average is $42.24. The company has a market cap of $8.58 billion, a price-to-earnings ratio of -511.39 and a beta of 1.90. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. Allegro MicroSystems has a 1 year low of $22.41 and a 1 year high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $243.19 million for the quarter, compared to analyst estimates of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. Allegro MicroSystems’s revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, sell-side analysts expect that Allegro MicroSystems will post 0.77 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.