Allegro MicroSystems (NASDAQ:ALGM) Lowered to Equal Weight Rating by Barclays

Barclays lowered shares of Allegro MicroSystems (NASDAQ:ALGM) from an overweight rating to an equal weight rating in a research note released on Monday, Marketbeat Ratings reports. Barclays currently has $48.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Evercore reissued an “outperform” rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $62.00 price target on shares of Allegro MicroSystems in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Finally, Mizuho boosted their price objective on Allegro MicroSystems from $54.00 to $67.00 and gave the stock an “outperform” rating in a research note on Monday, June 29th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegro MicroSystems currently has an average rating of “Moderate Buy” and a consensus target price of $55.20.

Allegro MicroSystems Stock Down 0.3%

NASDAQ ALGM opened at $46.36 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. The company has a market capitalization of $8.64 billion, a P/E ratio of -515.05 and a beta of 1.90. Allegro MicroSystems has a one year low of $22.41 and a one year high of $71.77. The stock has a 50 day moving average price of $51.54 and a 200-day moving average price of $41.62.

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

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total value of $234,138.96. Following the transaction, the chief accounting officer owned 13,106 shares of the company’s stock, valued at $588,197.28. This represents a 28.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Sharon Briansky sold 8,948 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $47.54, for a total value of $425,387.92. Following the completion of the sale, the senior vice president owned 75,232 shares in the company, valued at approximately $3,576,529.28. The trade was a 10.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,607 shares of company stock worth $3,213,714 over the last ninety days. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Allegro MicroSystems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its stake in Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Allegro MicroSystems during the fourth quarter worth approximately $34,000. CIBC Private Wealth Group LLC raised its stake in shares of Allegro MicroSystems by 14,844.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after acquiring an additional 1,336 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its stake in shares of Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after acquiring an additional 669 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 815.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after purchasing an additional 1,908 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.