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

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been given a consensus recommendation of “Moderate Buy” by the twelve research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $54.30.

ALGM has been the topic of a number of research reports. Barclays boosted their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wells Fargo & Company boosted their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. TD Cowen boosted their price objective on Allegro MicroSystems from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th.

Allegro MicroSystems Trading Down 0.2%

Shares of ALGM stock opened at $55.42 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. Allegro MicroSystems has a 1 year low of $22.41 and a 1 year high of $61.67. The stock has a fifty day moving average of $47.46 and a two-hundred day moving average of $38.08. The firm has a market capitalization of $10.32 billion, a PE ratio of -615.71 and a beta of 1.98.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly 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. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The company had revenue of $243.19 million during the quarter, compared to analyst estimates of $235.94 million. During the same quarter in the previous year, the firm posted $0.06 EPS. The firm’s quarterly revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, research analysts expect that Allegro MicroSystems will post 0.77 EPS for the current year.

Insider Buying and Selling

In other news, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total value of $759,682.06. Following the sale, the director owned 12,805 shares of the company’s stock, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Doogue sold 30,089 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the sale, the chief executive officer directly owned 252,797 shares in the company, valued at $11,939,602.31. This represents a 10.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 68,607 shares of company stock worth $3,213,714. 0.40% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Allegro MicroSystems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors raised its position in shares of Allegro MicroSystems by 5.8% during the third quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock worth $491,282,000 after purchasing an additional 920,365 shares during the period. Vanguard Group Inc. raised its position in shares of Allegro MicroSystems by 0.6% during the third quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock worth $417,369,000 after purchasing an additional 87,526 shares during the period. Invesco Ltd. raised its position in shares of Allegro MicroSystems by 44.0% during the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after purchasing an additional 2,338,624 shares during the period. State Street Corp raised its position in shares of Allegro MicroSystems by 1.5% during the fourth quarter. State Street Corp now owns 5,359,488 shares of the company’s stock worth $141,383,000 after purchasing an additional 78,203 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Allegro MicroSystems by 77.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock worth $73,968,000 after purchasing an additional 1,227,317 shares during the period. 56.45% of the stock is 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.