Allegro MicroSystems (NASDAQ:ALGM) Upgraded at Wall Street Zen

Allegro MicroSystems (NASDAQ:ALGM) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Other equities analysts have also recently issued reports about the company. Mizuho set a $38.00 target price on Allegro MicroSystems in a research report on Tuesday, December 16th. TD Cowen upped their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Evercore ISI lifted their price objective on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the stock an “outperform” rating in a report on Friday, October 31st. UBS Group increased their target price on Allegro MicroSystems from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Cowen reaffirmed a “buy” rating on shares of Allegro MicroSystems in a research note on Friday, October 31st. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus target price of $38.78.

Allegro MicroSystems Trading Up 2.0%

Shares of ALGM opened at $33.35 on Friday. Allegro MicroSystems has a twelve month low of $16.38 and a twelve month high of $38.45. The stock has a market cap of $6.17 billion, a PE ratio of -208.44 and a beta of 1.61. The company has a quick ratio of 2.48, a current ratio of 3.89 and a debt-to-equity ratio of 0.30. The business’s 50-day moving average price is $27.40 and its 200-day moving average price is $29.94.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 3.60% and a positive return on equity of 2.90%. The business had revenue of $214.29 million for the quarter, compared to analyst estimates of $210.75 million. During the same quarter in the prior year, the firm posted $0.08 EPS. Allegro MicroSystems’s 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, equities analysts forecast that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegro MicroSystems

A number of large investors have recently added to or reduced their stakes in ALGM. PNC Financial Services Group Inc. raised its stake in shares of Allegro MicroSystems by 2.7% during the third quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company’s stock valued at $430,000 after acquiring an additional 381 shares during the last quarter. UMB Bank n.a. lifted its holdings in Allegro MicroSystems by 29.2% in the 2nd quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after buying an additional 415 shares during the period. Hantz Financial Services Inc. lifted its holdings in Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after buying an additional 419 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Allegro MicroSystems by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company’s stock valued at $657,000 after buying an additional 466 shares during the period. Finally, Retirement Systems of Alabama increased its stake in shares of Allegro MicroSystems by 0.3% during the second quarter. Retirement Systems of Alabama now owns 200,781 shares of the company’s stock valued at $6,865,000 after buying an additional 668 shares during the period. Institutional investors own 56.45% of the company’s stock.

About Allegro MicroSystems

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.