Allegro MicroSystems (NASDAQ:ALGM) Price Target Raised to $39.00 at Bank of America

Allegro MicroSystems (NASDAQ:ALGM) had its target price boosted by Bank of America from $36.00 to $39.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

ALGM has been the topic of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of Allegro MicroSystems in a report on Monday, December 29th. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday. TD Cowen restated a “buy” rating on shares of Allegro MicroSystems in a report on Friday, October 31st. Barclays raised their price objective on shares of Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Finally, Mizuho set a $38.00 price objective on shares of Allegro MicroSystems in a research report on Tuesday, December 16th. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems presently has an average rating of “Moderate Buy” and an average target price of $38.89.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM opened at $33.99 on Wednesday. The company has a market capitalization of $6.29 billion, a PE ratio of -212.44 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.48 and a current ratio of 3.89. The stock has a fifty day moving average of $27.79 and a 200-day moving average of $29.89. Allegro MicroSystems has a one year low of $16.38 and a one year high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Allegro MicroSystems had a positive return on equity of 2.90% and a negative net margin of 3.60%.The business had revenue of $214.29 million for the quarter, compared to analysts’ expectations of $210.75 million. During the same period in the previous year, the firm posted $0.08 EPS. The company’s quarterly revenue was up 14.4% on a year-over-year basis. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. As a group, equities analysts anticipate that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegro MicroSystems

Several large investors have recently made changes to their positions in ALGM. Bayforest Capital Ltd acquired a new position in shares of Allegro MicroSystems during the 2nd quarter valued at about $650,000. Geode Capital Management LLC boosted its position in Allegro MicroSystems by 0.7% during the second quarter. Geode Capital Management LLC now owns 2,405,986 shares of the company’s stock worth $82,274,000 after purchasing an additional 17,902 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Allegro MicroSystems during the second quarter valued at approximately $481,000. KLP Kapitalforvaltning AS grew its holdings in Allegro MicroSystems by 10.4% during the second quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock valued at $940,000 after purchasing an additional 2,600 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its position in shares of Allegro MicroSystems by 1.3% in the second quarter. Segall Bryant & Hamill LLC now owns 1,328,254 shares of the company’s stock valued at $45,413,000 after purchasing an additional 16,728 shares during the period. 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.