Allegro MicroSystems, Inc. (NASDAQ:ALGM) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Allegro MicroSystems has received a consensus rating of "Moderate Buy" from eleven analysts, with an average target price of $36.78.
• The company's recent earnings report showed a quarterly revenue of $203.41 million and earnings per share of $0.09, meeting analysts' expectations.
• Shares of Allegro MicroSystems are currently trading at $29.06, with a market capitalization of $5.38 billion and a notable increase in institutional ownership.

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eleven analysts that are covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $36.7778.

ALGM has been the topic of several recent research reports. TD Cowen dropped their target price on Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Wells Fargo & Company reissued an "overweight" rating and issued a $42.00 price objective (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Needham & Company LLC raised their price objective on Allegro MicroSystems from $25.00 to $37.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Weiss Ratings reissued a "sell (d)" rating on shares of Allegro MicroSystems in a research report on Wednesday, October 8th. Finally, Mizuho raised their price objective on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st.

Allegro MicroSystems Stock Down 0.9%

Shares of NASDAQ ALGM opened at $29.06 on Friday. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $5.38 billion, a PE ratio of -78.54 and a beta of 1.72. The stock's fifty day simple moving average is $30.05 and its two-hundred day simple moving average is $28.53. Allegro MicroSystems has a 12-month low of $16.38 and a 12-month high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $203.41 million for the quarter, compared to analysts' expectations of $197.82 million. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The business's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, analysts expect that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the sale, the chief accounting officer owned 17,300 shares of the company's stock, valued at $567,613. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by insiders.

Institutional Trading of Allegro MicroSystems

A number of institutional investors have recently made changes to their positions in ALGM. SG Americas Securities LLC purchased a new position in Allegro MicroSystems in the 1st quarter worth $805,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Allegro MicroSystems by 18.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company's stock worth $668,000 after acquiring an additional 4,185 shares during the last quarter. Fifth Third Bancorp raised its stake in Allegro MicroSystems by 63.7% in the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock worth $33,000 after acquiring an additional 504 shares during the last quarter. GAMMA Investing LLC raised its stake in Allegro MicroSystems by 144.3% in the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock worth $104,000 after acquiring an additional 2,454 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Allegro MicroSystems by 36.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 104,966 shares of the company's stock worth $2,638,000 after acquiring an additional 28,179 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Company Profile

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.

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