Allegro MicroSystems (NASDAQ:ALGM) Issues Q1 Earnings Guidance

Allegro MicroSystems (NASDAQ:ALGM) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.02-0.03 for the period, compared to the consensus earnings per share estimate of $0.02. The company issued revenue guidance of $166-168 million, compared to the consensus revenue estimate of $165.04 million. Allegro MicroSystems also updated its Q1 2025 guidance to 0.020-0.030 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Needham & Company LLC decreased their price target on Allegro MicroSystems from $40.00 to $33.00 and set a buy rating for the company in a research note on Friday, May 10th. Mizuho decreased their price target on Allegro MicroSystems from $45.00 to $35.00 and set a buy rating for the company in a research note on Friday, May 10th. Barclays decreased their price target on Allegro MicroSystems from $35.00 to $32.00 and set an overweight rating for the company in a research note on Friday, May 10th. Evercore ISI assumed coverage on Allegro MicroSystems in a research note on Tuesday, April 16th. They set an outperform rating and a $36.00 price target for the company. Finally, TD Cowen raised their price target on Allegro MicroSystems from $32.00 to $35.00 and gave the stock a buy rating in a research note on Thursday, June 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Allegro MicroSystems currently has a consensus rating of Moderate Buy and a consensus price target of $37.44.

Allegro MicroSystems Stock Up 0.3 %

Shares of ALGM traded up $0.07 during trading hours on Friday, hitting $24.38. The company had a trading volume of 104,385 shares, compared to its average volume of 1,688,406. The company has a market capitalization of $4.73 billion, a PE ratio of 31.17 and a beta of 1.67. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.22. Allegro MicroSystems has a one year low of $23.64 and a one year high of $52.26. The company’s fifty day moving average price is $29.44 and its two-hundred day moving average price is $28.86.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Allegro MicroSystems had a return on equity of 20.67% and a net margin of 14.55%. The company had revenue of $240.58 million during the quarter, compared to analysts’ expectations of $235.00 million. As a group, equities analysts forecast that Allegro MicroSystems will post 0.23 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Richard R. Lury sold 8,500 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $30.00, for a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 23,001 shares in the company, valued at $690,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.50% of the company’s stock.

About Allegro MicroSystems

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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.