Allegro MicroSystems (NASDAQ:ALGM) Given New $40.00 Price Target at TD Cowen

Allegro MicroSystems (NASDAQ:ALGM) had its price target dropped by equities researchers at TD Cowen from $48.00 to $40.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the stock. TD Cowen’s price objective would suggest a potential upside of 20.59% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Benchmark started coverage on shares of Allegro MicroSystems in a research note on Wednesday, August 12th. They issued a “buy” rating and a $60.00 target price for the company. Mizuho decreased their price target on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 8th. Needham & Company LLC boosted their price objective on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. Finally, Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $52.50.

Allegro MicroSystems Stock Performance

Shares of NASDAQ:ALGM opened at $33.17 on Monday. The business has a fifty day moving average of $36.54 and a 200-day moving average of $43.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. Allegro MicroSystems has a twelve month low of $22.41 and a twelve month high of $71.77. The firm has a market cap of $6.18 billion, a PE ratio of 552.93, a price-to-earnings-growth ratio of 1.00 and a beta of 1.99.

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

Insider Buying and Selling

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the business’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALGM. Transamerica Financial Advisors LLC bought a new stake in Allegro MicroSystems in the second quarter valued at about $27,000. Rakuten Securities Inc. bought a new position in Allegro MicroSystems during the second quarter worth about $31,000. Parallel Advisors LLC boosted its holdings in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after buying an additional 302 shares during the last quarter. Continuum Advisory LLC bought a new position in Allegro MicroSystems during the second quarter worth about $35,000. Finally, First Bancorp Inc ME bought a new position in Allegro MicroSystems during the second quarter worth about $49,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

About Allegro MicroSystems

Allegro MicroSystems, Inc is a semiconductor company that develops and manufactures magnetic sensing and power-management solutions. Its products are designed to help monitor motion, position, speed, current and temperature, as well as control power in electronic systems.

The company’s portfolio includes Hall-effect and other magnetic sensors, current sensors, motor drivers, regulators, LED drivers and related integrated circuits. These products are used in automotive applications such as advanced driver-assistance systems, vehicle electrification, powertrain systems, comfort features and safety systems, as well as in industrial and consumer equipment.

Founded in 1990 and headquartered in Manchester, New Hampshire, Allegro serves customers globally through its international operations and distribution network.