Allegro MicroSystems (NASDAQ:ALGM) Sets New 52-Week High – What’s Next?

Allegro MicroSystems, Inc. (NASDAQ:ALGM)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $51.66 and last traded at $49.7060, with a volume of 142793 shares. The stock had previously closed at $50.76.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. UBS Group boosted their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research note on Friday, February 13th. Mizuho boosted their price objective on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Finally, Barclays boosted their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus target price of $51.80.

Allegro MicroSystems Trading Up 4.3%

The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of -567.71 and a beta of 2.02. The company has a fifty day moving average price of $40.14 and a two-hundred day moving average price of $34.55. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30.

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

Insider Buying and Selling at Allegro MicroSystems

In other news, SVP Sharon Briansky sold 8,948 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.54, for a total transaction of $425,387.92. Following the transaction, the senior vice president directly owned 75,232 shares in the company, valued at $3,576,529.28. The trade was a 10.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Roald Graham Webster sold 5,217 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $588,197.28. This represents a 28.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 63,607 shares of company stock worth $2,950,114. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ALGM. Parallel Advisors LLC boosted its stake in Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Allegro MicroSystems by 2.7% in the third quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company’s stock valued at $430,000 after acquiring an additional 381 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after acquiring an additional 419 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its stake in Allegro MicroSystems by 3.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock valued at $376,000 after acquiring an additional 419 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in Allegro MicroSystems by 2.1% in the third quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company’s stock valued at $657,000 after acquiring an additional 466 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

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.