Analysts Set Allegro MicroSystems, Inc. (NASDAQ:ALGM) Price Target at $53.45

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, nine have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $53.4545.

A number of brokerages recently issued reports on ALGM. UBS Group upped their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays downgraded shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a research report on Monday, July 20th. Mizuho lowered their target price on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Weiss Ratings upgraded shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Finally, Morgan Stanley increased their target price on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, July 31st.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the completion of the transaction, the senior vice president owned 69,687 shares in the company, valued at $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction dated 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 directly owned 13,106 shares in the company, valued at approximately $588,197.28. The trade was a 28.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 12,502 shares of company stock worth $599,170 over the last 90 days. Corporate insiders own 0.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in Allegro MicroSystems during the 2nd quarter worth $966,975,000. Bank of America Corp DE increased its stake in Allegro MicroSystems by 136.6% in the third quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock valued at $27,818,000 after purchasing an additional 3,556,410 shares during the period. Invesco Ltd. increased its stake in Allegro MicroSystems by 44.0% in the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after purchasing an additional 2,338,624 shares during the period. Alliancebernstein L.P. raised 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 valued at $94,360,000 after buying an additional 1,806,183 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at about $38,457,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Down 11.0%

Shares of NASDAQ ALGM opened at $39.39 on Friday. The business has a 50-day moving average of $50.26 and a two-hundred day moving average of $43.49. The company has a market capitalization of $7.34 billion, a price-to-earnings ratio of 656.61, a price-to-earnings-growth ratio of 1.40 and a beta of 1.94. Allegro MicroSystems has a 1 year low of $22.41 and a 1 year high of $71.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The business had revenue of $259.24 million for the quarter, compared to the consensus estimate of $251.44 million. During the same quarter in the prior year, the business posted $0.09 EPS. The business’s revenue for the quarter was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, analysts forecast that Allegro MicroSystems will post 0.65 earnings per share for the current fiscal year.

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.