Allegro MicroSystems - ALGM Stock Forecast, Price & News

6 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Allegro MicroSystems in the last year. There are currently 6 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" ALGM shares.
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6 equities research analysts have issued twelve-month target prices for Allegro MicroSystems' shares. Their ALGM share price forecasts range from $44.00 to $52.00. On average, they anticipate the company's share price to reach $48.00 in the next twelve months. This suggests a possible upside of 6.4% from the stock's current price.
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Allegro MicroSystems' stock was trading at $30.02 on January 1st, 2023. Since then, ALGM shares have increased by 50.2% and is now trading at $45.10.
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Allegro MicroSystems saw a decline in short interest in the month of February. As of February 28th, there was short interest totaling 6,620,000 shares, a decline of 6.6% from the February 13th total of 7,090,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the days-to-cover ratio is currently 4.2 days. Approximately 9.5% of the shares of the stock are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Monday, May 8th 2023.
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Allegro MicroSystems, Inc. (NASDAQ:ALGM) issued its earnings results on Tuesday, January, 31st. The company reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.03. The firm earned $248.79 million during the quarter, compared to analysts' expectations of $245.20 million. Allegro MicroSystems had a net margin of 16.69% and a trailing twelve-month return on equity of 19.55%.

ETFs with the largest weight of Allegro MicroSystems (NASDAQ:ALGM) stock in their portfolio include Adaptiv Select ETF (ADPV), ProShares S&P Kensho Smart Factories ETF (MAKX), Invesco Dynamic Semiconductors ETF (PSI), Innovator IBD 50 ETF (FFTY), SPDR S&P Semiconductor ETF (XSD), First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN), SPDR S&P Kensho Smart Mobility ETF (HAIL) and First Trust Innovation Leaders ETF (ILDR).

Allegro MicroSystems updated its fourth quarter 2022 earnings guidance on Tuesday, January, 31st. The company provided earnings per share guidance of $0.35-$0.37 for the period, compared to the consensus estimate of $0.32. The company issued revenue guidance of $260.00 million-$270.00 million, compared to the consensus revenue estimate of $251.72 million.

(ALGM) raised $325 million in an initial public offering (IPO) on Thursday, October 29th 2020. The company issued 25,000,000 shares at a price of $12.00-$14.00 per share. Barclays, Credit Suisse and Wells Fargo Securities served as the underwriters for the IPO and Jefferies, Mizuho Securities, Needham & Co. and SMBC Nikko were co-managers.

Allegro MicroSystems trades on the NASDAQ under the ticker symbol "ALGM."

Allegro MicroSystems' stock is owned by many different retail and institutional investors. Top institutional investors include Clearbridge Investments LLC (2.06%), Allspring Global Investments Holdings LLC (1.72%), JPMorgan Chase & Co. (1.59%), Alliancebernstein L.P. (1.46%), Principal Financial Group Inc. (1.43%) and Macquarie Group Ltd. (1.04%). Insiders that own company stock include Christopher Brown, Joanne Valente, Joseph R Martin, Max R Glover, Michael Doogue, Noriharu Fujita, Paul V Walsh Jr, Paul V Walsh, Jr, Ravi Vig, Reza Kazerounian, Richard R Lury, Skna LP Oep, Susan D Lynch and Thomas C Jr Teebagy.
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Shares of ALGM stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ALGM stock can currently be purchased for approximately $45.10.

Allegro MicroSystems (NASDAQ:ALGM) has a market capitalization of $8.64 billion and generates $904.50 million in revenue each year. The company earns $119.41 million in net income (profit) each year or $0.77 on an earnings per share basis.

The company employs 4,036 workers across the globe.

The official website for the company is www.allegromicro.com. The company can be reached via phone at 603-626-2300 or via email at kblye@allegromicro.com.