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

Allegro MicroSystems (NASDAQ:ALGM) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

Several other research firms also recently issued reports on ALGM. Barclays lifted their price target on shares of Allegro MicroSystems from $30.00 to $35.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allegro MicroSystems in a research report on Monday, December 29th. Evercore ISI lifted their price target on Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Mizuho set a $38.00 price objective on Allegro MicroSystems in a research note on Tuesday, December 16th. Finally, Cowen reaffirmed a “buy” rating on shares of Allegro MicroSystems in a research report on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $38.78.

Allegro MicroSystems Trading Up 2.0%

NASDAQ:ALGM opened at $33.35 on Friday. Allegro MicroSystems has a 12 month low of $16.38 and a 12 month high of $38.45. The company has a current ratio of 3.89, a quick ratio of 2.48 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $6.17 billion, a price-to-earnings ratio of -208.44 and a beta of 1.61. The firm has a fifty day simple moving average of $27.40 and a two-hundred day simple moving average of $29.94.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.12 by $0.01. The company had revenue of $214.29 million during the quarter, compared to the consensus estimate of $210.75 million. Allegro MicroSystems had a positive return on equity of 2.90% and a negative net margin of 3.60%.The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. During the same period last year, the business posted $0.08 EPS. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. Analysts expect that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Hantz Financial Services Inc. raised its stake in Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after acquiring an additional 419 shares during the period. Quent Capital LLC bought a new stake in shares of Allegro MicroSystems in the third quarter valued at approximately $28,000. UMB Bank n.a. lifted its stake in shares of Allegro MicroSystems by 29.2% during the 2nd quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock valued at $63,000 after buying an additional 415 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in Allegro MicroSystems by 12,315.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock worth $73,000 after buying an additional 2,463 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in Allegro MicroSystems by 158.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock valued at $76,000 after buying an additional 1,356 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.