Allegro MicroSystems (NASDAQ:ALGM) Cut to Hold at Wall Street Zen

by · The Markets Daily

Wall Street Zen cut shares of Allegro MicroSystems (NASDAQ:ALGM – Free Report) from a buy rating to a hold rating in a research report report published on Saturday morning.

Other analysts have also issued reports about the company. Cowen reiterated a “buy” rating on shares of Allegro MicroSystems in a research note on Friday, October 31st. Barclays lifted their target price on Allegro MicroSystems from $30.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Mizuho set a $38.00 price target on Allegro MicroSystems in a research report on Tuesday, December 16th. Evercore ISI raised their price objective on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allegro MicroSystems in a research note on Monday, December 29th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegro MicroSystems has an average rating of “Moderate Buy” and an average target price of $38.78.

View Our Latest Stock Analysis on Allegro MicroSystems

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $30.17 on Friday. The firm has a market cap of $5.59 billion, a P/E ratio of -188.56 and a beta of 1.61. The company has a quick ratio of 2.48, a current ratio of 3.89 and a debt-to-equity ratio of 0.30. The company’s 50 day moving average is $27.00 and its 200-day moving average is $29.97. Allegro MicroSystems has a 12-month low of $16.38 and a 12-month high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 3.60% and a positive return on equity of 2.90%. The business had revenue of $214.29 million during the quarter, compared to analyst estimates of $210.75 million. During the same period in the previous year, the business earned $0.08 EPS. Allegro MicroSystems’s revenue was up 14.4% compared to the same quarter last year. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. Sell-side analysts predict that Allegro MicroSystems will post 0.01 earnings per share for the current year.

Institutional Trading of Allegro MicroSystems

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bayforest Capital Ltd purchased a new stake in Allegro MicroSystems during the second quarter valued at about $650,000. Geode Capital Management LLC increased its holdings in shares of Allegro MicroSystems by 0.7% in the second quarter. Geode Capital Management LLC now owns 2,405,986 shares of the company’s stock worth $82,274,000 after buying an additional 17,902 shares during the period. KLP Kapitalforvaltning AS lifted its stake in shares of Allegro MicroSystems by 10.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock valued at $940,000 after acquiring an additional 2,600 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Allegro MicroSystems during the 2nd quarter valued at about $481,000. Finally, Segall Bryant & Hamill LLC boosted its holdings in Allegro MicroSystems by 1.3% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 1,328,254 shares of the company’s stock valued at $45,413,000 after acquiring an additional 16,728 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Company Profile

(Get Free Report)

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.

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