Allegro MicroSystems (ALGM) to Release Earnings on Thursday

Allegro MicroSystems (NASDAQ:ALGM) is scheduled to post its quarterly earnings results before the market opens on Thursday, May 9th. Analysts expect Allegro MicroSystems to post earnings of $0.21 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $30.09 on Tuesday. Allegro MicroSystems has a twelve month low of $24.66 and a twelve month high of $53.05. The firm’s fifty day simple moving average is $28.36 and its 200-day simple moving average is $28.36. The firm has a market capitalization of $5.81 billion, a price-to-earnings ratio of 26.39 and a beta of 1.72. The company has a current ratio of 4.57, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALGM. Needham & Company LLC cut their price target on shares of Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. Wolfe Research upgraded shares of Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 price target on the stock in a research note on Friday, February 2nd. Evercore ISI began coverage on shares of Allegro MicroSystems in a research note on Tuesday, April 16th. They set an “outperform” rating and a $36.00 price target on the stock. Finally, TD Cowen lifted their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.50.

About Allegro MicroSystems

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.