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

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have been given an average recommendation of “Moderate Buy” by the twelve analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $51.80.

Several equities analysts have commented on ALGM shares. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a report on Thursday, May 7th. Barclays raised their target price on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Mizuho raised their target price on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Morgan Stanley raised shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a report on Friday, February 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th.

Insider Buying and Selling

In other news, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction on Monday, May 11th. The stock was sold at an average price of $47.23, for a total value of $1,421,103.47. Following the transaction, the chief executive officer owned 252,797 shares in the company, valued at approximately $11,939,602.31. This trade represents a 10.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Roald Graham Webster sold 5,217 shares of Allegro MicroSystems stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the transaction, the chief accounting officer owned 13,106 shares in the company, valued at approximately $588,197.28. The trade was a 28.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 68,607 shares of company stock worth $3,213,714. 0.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On Allegro MicroSystems

Several hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors increased its stake in shares of Allegro MicroSystems by 5.8% in the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock valued at $491,282,000 after purchasing an additional 920,365 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Allegro MicroSystems by 0.6% in the 3rd 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 during the last quarter. Invesco Ltd. increased its stake in shares of Allegro MicroSystems by 44.0% in the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after purchasing an additional 2,338,624 shares during the last quarter. State Street Corp increased its stake in shares of Allegro MicroSystems by 1.5% in the 4th quarter. State Street Corp now owns 5,359,488 shares of the company’s stock valued at $141,383,000 after purchasing an additional 78,203 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Allegro MicroSystems by 77.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after purchasing an additional 1,227,317 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $46.39 on Friday. The stock’s fifty day moving average price is $42.32 and its two-hundred day moving average price is $35.48. Allegro MicroSystems has a one year low of $22.41 and a one year high of $54.40. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21. The firm has a market cap of $8.64 billion, a PE ratio of -515.39 and a beta of 1.98.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The firm had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. During the same period in the prior year, the company posted $0.06 earnings per share. The business’s revenue for the quarter was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, research analysts expect that Allegro MicroSystems will post 0.77 EPS for the current fiscal year.

About Allegro MicroSystems

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.