Allegro MicroSystems (NASDAQ:ALGM) Stock Rating Lowered by Wall Street Zen

Allegro MicroSystems (NASDAQ:ALGM) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Other equities research analysts also recently issued research reports about the stock. TD Cowen reduced their price objective on shares of Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating for the company in a report on Monday, July 13th. Evercore reiterated an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a research note on Friday, May 8th. UBS Group boosted their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and an average target price of $55.20.

Allegro MicroSystems Price Performance

NASDAQ ALGM opened at $46.03 on Friday. The company has a 50-day moving average price of $51.85 and a two-hundred day moving average price of $42.14. Allegro MicroSystems has a 52 week low of $22.41 and a 52 week high of $71.77. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of -511.39 and a beta of 1.90. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 business had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. During the same period in the previous year, the firm posted $0.06 earnings per share. The business’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. Analysts forecast that Allegro MicroSystems will post 0.77 EPS for the current year.

Insider Activity at Allegro MicroSystems

In related news, SVP Ian Kent sold 2,642 shares of Allegro MicroSystems stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $41.56, for a total value of $109,801.52. Following the transaction, the senior vice president owned 25,392 shares of the company’s stock, valued at approximately $1,055,291.52. This trade represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,607 shares of company stock valued at $3,213,714 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC raised its holdings in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares during the period. Kestra Advisory Services LLC acquired a new position in Allegro MicroSystems in the 4th quarter worth approximately $34,000. CIBC Private Wealth Group LLC boosted its stake in Allegro MicroSystems by 14,844.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in Allegro MicroSystems by 815.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after purchasing an additional 1,908 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

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.