Allegro MicroSystems (NASDAQ:ALGM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Allegro MicroSystems (NASDAQ:ALGM) from a hold rating to a buy rating in a report published on Sunday morning.

ALGM has been the topic of several other reports. Cowen restated a “buy” rating on shares of Allegro MicroSystems in a report on Friday, October 31st. Mizuho set a $38.00 price target on Allegro MicroSystems in a research note on Tuesday, December 16th. Evercore ISI lifted their price objective on Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, October 31st. UBS Group upped their price objective on shares of Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, TD Cowen boosted their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company a “buy” rating in a report on Friday, October 31st. 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. Based on data from MarketBeat.com, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and an average target price of $38.78.

Allegro MicroSystems Trading Down 1.1%

Shares of ALGM opened at $32.97 on Friday. The firm has a market capitalization of $6.10 billion, a price-to-earnings ratio of -206.06 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.89 and a quick ratio of 2.48. Allegro MicroSystems has a 1-year low of $16.38 and a 1-year high of $38.45. The company has a 50-day moving average of $27.64 and a 200 day moving average of $29.86.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $210.75 million. During the same period in the prior year, the firm earned $0.08 EPS. The company’s revenue for the quarter 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. On average, research analysts expect that Allegro MicroSystems will post 0.01 EPS for the current year.

Hedge Funds Weigh In On Allegro MicroSystems

A number of institutional investors have recently made changes to their positions in the stock. Capital Research Global Investors lifted its holdings in shares of Allegro MicroSystems by 5.8% during the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock worth $491,282,000 after acquiring an additional 920,365 shares during the last quarter. Vanguard Group Inc. raised its position in Allegro MicroSystems by 0.6% during the third quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock valued at $417,369,000 after purchasing an additional 87,526 shares in the last quarter. Invesco Ltd. lifted its stake in Allegro MicroSystems by 29.3% during the second quarter. Invesco Ltd. now owns 6,254,575 shares of the company’s stock worth $213,844,000 after purchasing an additional 1,418,934 shares during the last quarter. State Street Corp lifted its stake in Allegro MicroSystems by 2.1% during the second quarter. State Street Corp now owns 5,193,001 shares of the company’s stock worth $177,549,000 after purchasing an additional 108,402 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Allegro MicroSystems by 189.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock worth $94,360,000 after purchasing an additional 1,806,183 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.