Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been assigned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $51.80.

ALGM has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their price target on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Needham & Company LLC upped their target price on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Morgan Stanley raised shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research report on Friday, February 13th.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the sale, the chief accounting officer owned 13,106 shares in the company, valued at $588,197.28. This represents a 28.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ian Kent sold 2,642 shares of Allegro MicroSystems stock in a transaction on Monday, May 18th. The shares were sold at an average price of $41.56, for a total transaction of $109,801.52. Following the sale, the senior vice president directly owned 25,392 shares of the company’s stock, valued at $1,055,291.52. This trade represents a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 63,607 shares of company stock worth $2,950,114. 0.40% of the stock is owned by company insiders.

Institutional Trading of Allegro MicroSystems

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its stake in Allegro MicroSystems by 70.0% in the first quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock valued at $2,964,000 after purchasing an additional 48,554 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Allegro MicroSystems during the 1st quarter worth about $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Allegro MicroSystems by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock valued at $8,911,000 after buying an additional 85,607 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Allegro MicroSystems by 24.0% in the 2nd quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock valued at $536,000 after buying an additional 3,040 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of Allegro MicroSystems by 5.4% in the 2nd quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock valued at $19,710,000 after buying an additional 29,531 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Trading Down 6.4%

Allegro MicroSystems stock opened at $47.84 on Friday. The company has a 50 day moving average price of $40.47 and a 200 day moving average price of $34.64. Allegro MicroSystems has a 52 week low of $22.41 and a 52 week high of $52.80. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. The firm has a market capitalization of $8.91 billion, a price-to-earnings ratio of -531.54 and a beta of 2.02.

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, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Research analysts forecast 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.