Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Consensus Rating of “Moderate Buy” by Analysts

Allegro MicroSystems, Inc. (NASDAQ:ALGM) has been assigned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $55.20.

A number of research firms have issued reports on ALGM. Wall Street Zen lowered shares of Allegro MicroSystems from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen cut their price target on Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Monday, July 13th. Wells Fargo & Company boosted their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th.

Insiders Place Their Bets

In related news, SVP Richard Madormo sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president owned 69,687 shares in the company, valued at $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Ian Kent sold 2,642 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $41.56, for a total value of $109,801.52. Following the completion of the sale, the senior vice president directly owned 25,392 shares in the company, valued at $1,055,291.52. This represents a 9.42% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 68,607 shares of company stock valued at $3,213,714. Corporate insiders own 0.50% of the company’s stock.

Institutional Investors Weigh In On Allegro MicroSystems

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Handelsbanken Fonder AB grew its position in Allegro MicroSystems by 49.7% during the 2nd quarter. Handelsbanken Fonder AB now owns 59,900 shares of the company’s stock worth $4,170,000 after purchasing an additional 19,900 shares in the last quarter. Fulton Bank N.A. acquired a new stake in shares of Allegro MicroSystems in the second quarter worth $322,000. Harbor Investment Advisory LLC acquired a new stake in shares of Allegro MicroSystems in the second quarter worth $72,000. Parallel Advisors LLC grew its holdings in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after buying an additional 302 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Allegro MicroSystems by 48.3% during the first quarter. Bank of America Corp DE now owns 855,453 shares of the company’s stock valued at $26,972,000 after buying an additional 278,798 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Down 8.1%

Shares of NASDAQ:ALGM opened at $46.03 on Monday. The firm has a market cap of $8.58 billion, a PE ratio of -511.39 and a beta of 1.90. The company has a fifty day simple moving average of $51.85 and a 200 day simple moving average of $42.14. 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 has a 12-month low of $22.41 and a 12-month high of $71.77.

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

About Allegro MicroSystems

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.