Allegro MicroSystems’ (ALGM) Sell (D) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d) rating on shares of Allegro MicroSystems (NASDAQ:ALGM) in a research report sent to investors on Friday morning,Weiss Ratings reports.

Several other research firms also recently commented on ALGM. Bank of America cut their price objective on shares of Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, September 5th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Zacks Research upgraded Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. Morgan Stanley decreased their price objective on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Finally, Barclays increased their price objective on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Eight investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.78.

Allegro MicroSystems Stock Down 0.3%

ALGM stock opened at $30.91 on Friday. The stock has a fifty day moving average of $30.03 and a 200-day moving average of $28.94. Allegro MicroSystems has a fifty-two week low of $16.38 and a fifty-two week high of $38.45. The company has a market capitalization of $5.72 billion, a price-to-earnings ratio of -83.54 and a beta of 1.72. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $203.41 million for the quarter, compared to the consensus estimate of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The company’s revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, equities research analysts predict that Allegro MicroSystems will post 0.01 earnings per share for the current year.

Insider Activity

In related news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the sale, the chief accounting officer owned 17,300 shares of the company’s stock, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Allegro MicroSystems

Several institutional investors and hedge funds have recently modified their holdings of the business. Invesco Ltd. boosted its position in shares of Allegro MicroSystems by 29.3% during the 2nd quarter. Invesco Ltd. now owns 6,254,575 shares of the company’s stock valued at $213,844,000 after acquiring an additional 1,418,934 shares during the last quarter. State Street Corp raised its stake in Allegro MicroSystems by 2.1% in the second quarter. State Street Corp now owns 5,193,001 shares of the company’s stock valued at $177,549,000 after purchasing an additional 108,402 shares in the last quarter. Alliancebernstein L.P. lifted its position in Allegro MicroSystems by 189.4% during the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after purchasing an additional 1,806,183 shares during the last quarter. Principal Financial Group Inc. grew its stake in Allegro MicroSystems by 6.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company’s stock worth $60,717,000 after buying an additional 144,824 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Allegro MicroSystems by 0.7% in the 2nd 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 last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Company Profile

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.