Allegro MicroSystems Sees Unusually High Options Volume (NASDAQ:ALGM)

Allegro MicroSystems, Inc. (NASDAQ:ALGM) saw some unusual options trading on Tuesday. Traders acquired 9,008 put options on the company. This is an increase of approximately 490% compared to the typical daily volume of 1,527 put options.

Wall Street Analyst Weigh In

A number of analysts have commented on ALGM shares. Barclays upped their target price on shares of Allegro MicroSystems from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 31st. TD Cowen upped their price objective on Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. UBS Group raised their target price on Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Bank of America cut their price target on Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, September 5th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Allegro MicroSystems in a research report on Monday. Nine equities research 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’s stock. According to data from MarketBeat.com, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and an average price target of $38.78.

Allegro MicroSystems Stock Down 2.9%

ALGM opened at $25.48 on Thursday. The stock has a market cap of $4.72 billion, a price-to-earnings ratio of -159.25 and a beta of 1.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.48 and a current ratio of 3.89. The firm’s fifty day moving average is $27.54 and its 200 day moving average is $30.24. Allegro MicroSystems has a fifty-two week low of $16.38 and a fifty-two week high of $38.45.

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

Hedge Funds Weigh In On Allegro MicroSystems

Several hedge funds have recently modified their holdings of the stock. Polar Asset Management Partners Inc. purchased a new position in Allegro MicroSystems during the third quarter valued at $262,000. Centaurus Financial Inc. purchased a new stake in Allegro MicroSystems in the 3rd quarter worth $161,000. NewEdge Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 12,315.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after purchasing an additional 2,463 shares during the last quarter. Castleark Management LLC grew its position in shares of Allegro MicroSystems by 29.4% during the third quarter. Castleark Management LLC now owns 133,508 shares of the company’s stock valued at $3,898,000 after purchasing an additional 30,348 shares in the last quarter. Finally, XTX Topco Ltd grew its position in shares of Allegro MicroSystems by 432.8% during the third quarter. XTX Topco Ltd now owns 50,358 shares of the company’s stock valued at $1,470,000 after purchasing an additional 40,907 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

About Allegro MicroSystems

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.