Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have been given an average recommendation of “Moderate Buy” by the twelve research firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $55.20.

Several brokerages have weighed in on ALGM. Wells Fargo & Company increased their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. UBS Group boosted their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Evercore reaffirmed an “outperform” rating and set a $53.00 price target on shares of Allegro MicroSystems in a research report on Friday, May 8th. Jefferies Financial Group reiterated a “buy” rating and set a $62.00 price target on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Finally, Barclays lifted their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th.

Insider Activity

In other news, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the transaction, the chief executive officer owned 252,797 shares in the company, valued at $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $45.46, for a total transaction of $759,682.06. Following the completion of the sale, the director directly owned 12,805 shares in the company, valued at approximately $582,115.30. This trade represents a 56.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 68,607 shares of company stock valued at $3,213,714. 0.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Invesco Ltd. grew its stake in 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 buying an additional 2,338,624 shares in the last quarter. State Street Corp lifted its position in shares of Allegro MicroSystems by 1.5% during the fourth quarter. State Street Corp now owns 5,359,488 shares of the company’s stock worth $141,383,000 after acquiring an additional 78,203 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Allegro MicroSystems by 77.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock worth $73,968,000 after acquiring an additional 1,227,317 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock worth $94,360,000 after acquiring an additional 1,806,183 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Allegro MicroSystems by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,393,968 shares of the company’s stock valued at $63,165,000 after purchasing an additional 24,839 shares in the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Price Performance

ALGM opened at $46.48 on Monday. Allegro MicroSystems has a twelve month low of $22.41 and a twelve month high of $71.77. The company’s 50-day moving average price is $51.58 and its two-hundred day moving average price is $41.48. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of -516.39 and a beta of 1.90. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30.

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