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

by · The Cerbat Gem

Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twelve analysts that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, nine have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $53.4545.

A number of equities analysts have weighed in on ALGM shares. Weiss Ratings upgraded shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Barclays cut shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 target price on the stock. in a research note on Monday, July 20th. TD Cowen dropped their target price on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a report on Friday, July 31st. Finally, Benchmark assumed coverage on Allegro MicroSystems in a research note on Wednesday, August 12th. They issued a “buy” rating and a $60.00 price target for the company.

View Our Latest Report on Allegro MicroSystems

Allegro MicroSystems Stock Down 6.8%

Shares of ALGM stock opened at $33.85 on Tuesday. Allegro MicroSystems has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a 50 day simple moving average of $42.44 and a two-hundred day simple moving average of $43.02. The stock has a market cap of $6.31 billion, a P/E ratio of 564.26, a P/E/G ratio of 1.14 and a beta of 1.91. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $259.24 million for the quarter, compared to the consensus estimate of $251.44 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, research analysts expect that Allegro MicroSystems will post 0.65 earnings per share for the current year.

Insider Activity at Allegro MicroSystems

In other news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $44.39, for a total value of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares of the company’s stock, valued at $1,378,398.28. This represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Archford Capital Strategies LLC purchased a new stake in Allegro MicroSystems during the 2nd quarter valued at approximately $348,000. Nykredit A S bought a new stake in shares of Allegro MicroSystems during the second quarter valued at approximately $264,000. Corient Private Wealth LP lifted its holdings in shares of Allegro MicroSystems by 39.8% in the second quarter. Corient Private Wealth LP now owns 19,425 shares of the company’s stock worth $1,352,000 after buying an additional 5,526 shares in the last quarter. Amundi purchased a new position in shares of Allegro MicroSystems in the second quarter worth $3,430,000. Finally, HighTower Advisors LLC bought a new position in shares of Allegro MicroSystems during the second quarter worth $434,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

About Allegro MicroSystems

(Get Free Report)

Allegro MicroSystems, Inc develops and manufactures semiconductor solutions that enable motion control, energy efficiency and intelligent system monitoring. The company primarily serves the automotive and industrial markets, providing integrated circuits and sensor technologies used in vehicles, factory automation, appliances, power systems and other electronic equipment.

Its product portfolio includes magnetic sensor ICs for measuring position, speed, current and motion; power management and regulation devices; motor driver ICs; LED driver solutions; and other application-specific integrated circuits.

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