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

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has received an average recommendation of “Moderate Buy” from the twelve analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $55.20.

ALGM has been the subject of several recent analyst reports. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Mizuho increased their target price on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. UBS Group raised their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays boosted their price target on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th.

Allegro MicroSystems Price Performance

ALGM stock opened at $46.48 on Monday. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $8.66 billion, a PE ratio of -516.39 and a beta of 1.90. Allegro MicroSystems has a twelve month low of $22.41 and a twelve month high of $71.77. The stock has a 50-day simple moving average of $51.58 and a two-hundred day simple moving average of $41.48.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company’s 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. On average, equities analysts predict that Allegro MicroSystems will post 0.77 EPS for the current fiscal year.

Insider Activity at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the transaction, the senior vice president directly owned 69,687 shares in the company, valued at $3,673,898.64. This represents a 6.69% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan D. Lynch sold 16,711 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $45.46, for a total value of $759,682.06. Following the completion of the sale, the director directly owned 12,805 shares in the company, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,607 shares of company stock valued at $3,213,714 in the last ninety days. 0.50% of the stock is currently owned by corporate insiders.

Institutional Trading of Allegro MicroSystems

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

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.