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S&P 500   4,282.37
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MarketBeat Week in Review – 5/29 - 6/2
How A.I. Could Make Most 21st Century Diseases EXTINCT (Ad)
Biden signs debt ceiling bill that pulls US back from brink of unprecedented default
Russia bans 'unfriendly' countries' journalists from showpiece economic gathering
[Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Slow start to New York's legal pot market leaves farmers holding the bag
With oil prices slumping, OPEC+ producers weigh more production cuts
[Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Las Vegas ballpark pitch revives debate over public funding for sports stadiums
Twitter executive responsible for content safety resigns after Elon Musk criticism
S&P 500   4,282.37
DOW   33,762.76
QQQ   354.65
MarketBeat Week in Review – 5/29 - 6/2
How A.I. Could Make Most 21st Century Diseases EXTINCT (Ad)
Biden signs debt ceiling bill that pulls US back from brink of unprecedented default
Russia bans 'unfriendly' countries' journalists from showpiece economic gathering
[Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Slow start to New York's legal pot market leaves farmers holding the bag
With oil prices slumping, OPEC+ producers weigh more production cuts
[Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Las Vegas ballpark pitch revives debate over public funding for sports stadiums
Twitter executive responsible for content safety resigns after Elon Musk criticism
S&P 500   4,282.37
DOW   33,762.76
QQQ   354.65
MarketBeat Week in Review – 5/29 - 6/2
How A.I. Could Make Most 21st Century Diseases EXTINCT (Ad)
Biden signs debt ceiling bill that pulls US back from brink of unprecedented default
Russia bans 'unfriendly' countries' journalists from showpiece economic gathering
[Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Slow start to New York's legal pot market leaves farmers holding the bag
With oil prices slumping, OPEC+ producers weigh more production cuts
[Strong Buy Alert] Is this laser stock in your portfolio? (Ad)
Las Vegas ballpark pitch revives debate over public funding for sports stadiums
Twitter executive responsible for content safety resigns after Elon Musk criticism
NASDAQ:ALGM

Allegro MicroSystems (ALGM) Stock Forecast, Price & News

$39.48
-0.01 (-0.03%)
(As of 06/2/2023 ET)
Compare
Today's Range
$38.65
$40.21
50-Day Range
$35.56
$47.99
52-Week Range
$19.20
$48.72
Volume
935,447 shs
Average Volume
1.57 million shs
Market Capitalization
$7.57 billion
P/E Ratio
41.13
Dividend Yield
N/A
Price Target
$48.33

Allegro MicroSystems MarketRank™ Forecast

Analyst Rating
Buy
3.00 Rating Score
Upside/​Downside
22.4% Upside
$48.33 Price Target
Short Interest
Bearish
8.42% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
1.37mentions of Allegro MicroSystems in the last 14 days
Based on 7 Articles This Week
Insider Trading
N/A
Proj. Earnings Growth
9.02%
From $1.22 to $1.33 Per Share

Overall MarketRank

MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation.

2.13 out of 5 stars

Computer And Technology Sector

290th out of 609 stocks

Semiconductors & Related Devices Industry

45th out of 89 stocks


ALGM stock logo

About Allegro MicroSystems (NASDAQ:ALGM) Stock

Allegro MicroSystems, Inc. is a leading designer and manufacturer of high-performance power and sensing semiconductors targeting the automotive and industrial markets. With over 50 years of industry experience, Allegro is known for its innovative solutions that enable advanced system performance, accuracy, and reliability.

Allegro MicroSystems was founded in 1990 and is headquartered in Manchester, New Hampshire. The company's mission is to provide innovative semiconductor solutions that improve modern industries' efficiency, safety, and sustainability. Allegro's core products include magnetic sensors, power management ICs, and motor drivers, which are used in a wide range of applications, including electric vehicles, robotics, and factory automation. The company has a global presence, with operations in the United States, Europe, and Asia.

Allegro's management team is led by Ravi Vig, who joined the company in 2019 as President and Chief Executive Officer. Vig has over 30 years of experience in the semiconductor industry, including leadership roles at Maxim Integrated and Freescale Semiconductor. Under his leadership, Allegro has strengthened its product portfolio, expanded its global footprint, and increased revenue growth.

Over the past few years, Allegro has demonstrated robust revenue growth, with revenue, net income, and gross profit margin all increasing. 

Allegro's current valuation metrics are slightly above industry peers, with a higher price-to-earnings ratio than peers. However, Allegro's strong financial performance and growth potential justify the premium valuation. In addition, the company's initial public offering was well-received by investors, reflecting positive sentiment toward Allegro's prospects.

The semiconductor industry is highly competitive, with a few dominant players, such as Texas Instruments and Analog Devices, and numerous smaller companies. However, Allegro's focus on power and sensing semiconductors for the automotive and industrial markets provides a unique competitive advantage. These markets require specialized solutions that can operate in challenging environments. Additionally, Allegro's focus on emerging technologies, such as electric vehicles and factory automation, positions the company for significant growth opportunities.

Allegro MicroSystems has several growth opportunities, including product development and expanding its reach into new markets. The company recently introduced several new products, including high-precision motor drivers, current sensors, and magnetic angle sensors, designed to meet the growing demand for advanced sensor technology. These products are well-positioned to benefit from the increasing adoption of electric vehicles, which require advanced sensor technology for safe and efficient operation.

In addition to expanding its product line, Allegro MicroSystems is also looking to expand its reach into new markets. The company has a strong presence in the automotive market but is also targeting the industrial and consumer electronics markets. By expanding its reach into these markets, Allegro MicroSystems can diversify its revenue streams and reduce its dependence on one market.

Allegro MicroSystems faces risks and challenges that could impact its future growth and profitability. One of the primary risks is the competitive nature of the semiconductor industry. Allegro MicroSystems faces intense competition from more established competitors, such as Texas Instruments and Analog Devices. These competitors have more significant resources and a more extensive customer base, which could make it challenging for Allegro MicroSystems to compete effectively.

Another risk is the potential for more supply chain disruptions. The semiconductor industry has been grappling with a global chip shortage, which has led to production delays and increased costs for many companies. Allegro MicroSystems could face similar challenges if it cannot secure adequate supplies of key components.

Allegro MicroSystems operates in a highly regulated industry, which could expose it to regulatory risks. Any changes in regulations related to data privacy, environmental regulations, or trade policies could have a significant impact on the company's operations and profitability.

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ALGM Stock News Headlines

15 A.I. Trading Opportunities a Day
Using our algorithm, we sift through 15,000 stocks every second. We generate 15 trading opportunities a day.
Poland's Allegro sees Q2 profit growth slowing
15 A.I. Trading Opportunities a Day
Using our algorithm, we sift through 15,000 stocks every second. We generate 15 trading opportunities a day.
Allegro MicroSystems (NASDAQ:ALGM) Shares Gap Up to $37.83
What 4 Analyst Ratings Have To Say About Allegro Microsystems
8-K: ALLEGRO MICROSYSTEMS, INC.
Q4 2023 Allegro Microsystems Inc Earnings Call
See More Headlines

ALGM Price History

ALGM Company Calendar

Last Earnings
5/10/2023
Today
6/03/2023
Next Earnings (Estimated)
7/27/2023
Fiscal Year End
3/31/2024

Industry, Sector and Symbol

Industry
Semiconductors & related devices
Sub-Industry
N/A
Current Symbol
NASDAQ:ALGM
Fax
N/A
Employees
4,687
Year Founded
N/A

Price Target and Rating

Average Stock Price Forecast
$48.33
High Stock Price Forecast
$52.00
Low Stock Price Forecast
$44.00
Forecasted Upside/Downside
+22.4%
Consensus Rating
Buy
Rating Score (0-4)
3.00
Research Coverage
5 Analysts

Profitability

Net Income
$187.36 million
Pretax Margin
21.71%

Debt

Sales & Book Value

Annual Sales
$973.65 million
Cash Flow
$1.27 per share
Book Value
$5.04 per share

Miscellaneous

Free Float
165,678,000
Market Cap
$7.57 billion
Optionable
Not Optionable
Beta
1.69

Key Executives

  • Mr. Derek P. D'Antilio (Age 50)
    Sr. VP, CFO & Treasurer
    Comp: $334.44k
  • Mr. Thomas C. Teebagy Jr.Mr. Thomas C. Teebagy Jr. (Age 63)
    Sr. VP of Operations & Quality
    Comp: $953.75k
  • Mr. Michael C. DoogueMr. Michael C. Doogue (Age 47)
    Sr. VP & CTO
    Comp: $910.37k
  • Mr. Max R. Glover (Age 41)
    Sr. VP of Worldwide Sales
    Comp: $1.17M
  • Mr. Vineet A. Nargolwala (Age 50)
    Pres, CEO & Director
  • Mr. Steven Miles (Age 75)
    VP of Technology Devel.
  • Mr. Phil Stathas
    VP & Chief Information Officer
  • Ms. Katherine Blye
    Sr. Director of Investor Relations & Marcom
  • Ms. Sharon S. Briansky (Age 49)
    Sr. VP, Gen. Counsel & Corp. Sec.
  • Mr. Mark Gill
    VP of Corp. Strategy & Marketing













ALGM Stock - Frequently Asked Questions

Should I buy or sell Allegro MicroSystems stock right now?

5 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Allegro MicroSystems in the last twelve months. There are currently 5 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" ALGM shares.
View ALGM analyst ratings
or view top-rated stocks.

What is Allegro MicroSystems' stock price forecast for 2023?

5 analysts have issued 12-month target prices for Allegro MicroSystems' shares. Their ALGM share price forecasts range from $44.00 to $52.00. On average, they predict the company's stock price to reach $48.33 in the next twelve months. This suggests a possible upside of 22.4% from the stock's current price.
View analysts price targets for ALGM
or view top-rated stocks among Wall Street analysts.

How have ALGM shares performed in 2023?

Allegro MicroSystems' stock was trading at $30.02 at the beginning of the year. Since then, ALGM shares have increased by 31.5% and is now trading at $39.48.
View the best growth stocks for 2023 here
.

Are investors shorting Allegro MicroSystems?

Allegro MicroSystems saw a increase in short interest in May. As of May 15th, there was short interest totaling 5,820,000 shares, an increase of 5.8% from the April 30th total of 5,500,000 shares. Based on an average daily trading volume, of 1,580,000 shares, the short-interest ratio is currently 3.7 days. Currently, 8.4% of the shares of the stock are short sold.
View Allegro MicroSystems' Short Interest
.

When is Allegro MicroSystems' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Thursday, July 27th 2023.
View our ALGM earnings forecast
.

How were Allegro MicroSystems' earnings last quarter?

Allegro MicroSystems, Inc. (NASDAQ:ALGM) issued its earnings results on Wednesday, May, 10th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The firm earned $240.53 million during the quarter, compared to analyst estimates of $265 million. Allegro MicroSystems had a trailing twelve-month return on equity of 22.37% and a net margin of 19.83%.

What guidance has Allegro MicroSystems issued on next quarter's earnings?

Allegro MicroSystems updated its first quarter 2024 earnings guidance on Friday, May, 12th. The company provided EPS guidance of $0.35-$0.39 for the period, compared to the consensus earnings per share estimate of $0.33. The company issued revenue guidance of $270.00 million-$280.00 million, compared to the consensus revenue estimate of $256.98 million.

When did Allegro MicroSystems IPO?

(ALGM) raised $325 million in an IPO on Thursday, October 29th 2020. The company issued 25,000,000 shares at $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.

What is Allegro MicroSystems' stock symbol?

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

Who are Allegro MicroSystems' major shareholders?

Allegro MicroSystems' stock is owned by a number of retail and institutional investors. Top institutional shareholders include Oep Capital Advisors L.P. (9.22%), FMR LLC (4.21%), BlackRock Inc. (3.07%), Clearbridge Investments LLC (1.96%), JPMorgan Chase & Co. (1.64%) and State Street Corp (1.47%). 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.
View institutional ownership trends
.

How do I buy shares of Allegro MicroSystems?

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.
Compare Top Brokerages Here.

What is Allegro MicroSystems' stock price today?

One share of ALGM stock can currently be purchased for approximately $39.48.

How much money does Allegro MicroSystems make?

Allegro MicroSystems (NASDAQ:ALGM) has a market capitalization of $7.57 billion and generates $973.65 million in revenue each year. The company earns $187.36 million in net income (profit) each year or $0.96 on an earnings per share basis.

How many employees does Allegro MicroSystems have?

The company employs 4,687 workers across the globe.

How can I contact Allegro MicroSystems?

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.

This page (NASDAQ:ALGM) was last updated on 6/4/2023 by MarketBeat.com Staff

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