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Allegro MicroSystems Stock Price, News & Analysis (NASDAQ:ALGM)

$26.57
-0.03 (-0.11%)
(As of 01:27 PM ET)
Compare
Today's Range
$26.52
$27.27
50-Day Range
$24.86
$32.44
52-Week Range
$24.66
$53.05
Volume
326,408 shs
Average Volume
1.47 million shs
Market Capitalization
$5.11 billion
P/E Ratio
20.44
Dividend Yield
N/A
Price Target
$48.86

Allegro MicroSystems MarketRank™ Stock Analysis

Analyst Rating
Moderate Buy
2.71 Rating Score
Upside/​Downside
82.8% Upside
$48.86 Price Target
Short Interest
Bearish
7.79% of Float Sold Short
Dividend Strength
N/A
Sustainability
N/A
News Sentiment
N/A
Insider Trading
Acquiring Shares
$77,881 Bought Last Quarter
Proj. Earnings Growth
-5.17%
From $1.16 to $1.10 Per Share

Overall MarketRank

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

1.85 out of 5 stars

Computer And Technology Sector

438th out of 588 stocks

Semiconductors Industry

5th out of 5 stocks


ALGM stock logo

About Allegro MicroSystems Stock (NASDAQ:ALGM)

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.

ALGM Stock Price History

ALGM Stock News Headlines

Energy Storage Trend Ignites Frenzy Over Vanadium Supply
As the world shifts to renewables such as wind and solar, how will we store all this energy? Vanadium batteries are the breakthrough that some experts predict will be the future of grid-scale energy storage. The problem is, only 5% of vanadium is mined in the U.S. - and China and Russia have a stranglehold on our supply.
Allegro Microsystems Inc Ordinary Shares ALGM
Allegro MicroSystems Reports Second Quarter 2024 Results
Lithium Discovery So BIG You Can't Miss it, Even From Space
With the green energy transition well underway, lithium demand is rapidly outpacing projected supply. While companies frantically search for new sources of this critical metal, one small company is sitting on a massive claim in North America - So big in fact that it can clearly be seen from space!
Allegro MicroSystems Secures Contract From BMW For Undisclosed Sum
What 6 Analyst Ratings Have To Say About Allegro Microsystems
See More Headlines
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Company Calendar

Last Earnings
11/02/2023
Today
12/06/2023
Next Earnings (Estimated)
1/30/2024
Fiscal Year End
3/31/2024

Industry, Sector and Symbol

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

Price Target and Rating

Average Stock Price Target
$48.86
High Stock Price Target
$60.00
Low Stock Price Target
$34.00
Potential Upside/Downside
+83.7%
Consensus Rating
Moderate Buy
Rating Score (0-4)
2.71
Research Coverage
7 Analysts

Profitability

Net Income
$187.36 million
Pretax Margin
26.96%

Debt

Sales & Book Value

Annual Sales
$1.07 billion
Cash Flow
$1.24 per share
Book Value
$5.05 per share

Miscellaneous

Free Float
173,716,000
Market Cap
$5.12 billion
Optionable
Not Optionable
Beta
1.80
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ALGM Stock Analysis - Frequently Asked Questions

Should I buy or sell Allegro MicroSystems stock right now?

7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Allegro MicroSystems in the last twelve months. There are currently 2 hold ratings and 5 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" ALGM shares.
View ALGM analyst ratings
or view top-rated stocks.

What is Allegro MicroSystems' stock price target for 2024?

7 Wall Street analysts have issued 12-month price objectives for Allegro MicroSystems' stock. Their ALGM share price targets range from $34.00 to $60.00. On average, they predict the company's share price to reach $48.86 in the next year. This suggests a possible upside of 82.8% 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 2023. Since then, ALGM stock has decreased by 11.0% and is now trading at $26.73.
View the best growth stocks for 2023 here
.

When is Allegro MicroSystems' next earnings date?

The company is scheduled to release its next quarterly earnings announcement on Tuesday, January 30th 2024.
View our ALGM earnings forecast
.

How were Allegro MicroSystems' earnings last quarter?

Allegro MicroSystems, Inc. (NASDAQ:ALGM) issued its quarterly earnings results on Thursday, November, 2nd. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.04. The business earned $275.51 million during the quarter, compared to analyst estimates of $275 million. Allegro MicroSystems had a net margin of 24.25% and a trailing twelve-month return on equity of 26.08%.

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

Allegro MicroSystems updated its third quarter earnings guidance on Thursday, November, 2nd. The company provided EPS guidance of $0.27-$0.31 for the period, compared to the consensus earnings per share estimate of $0.36. The company issued revenue guidance of $250-$260 million, compared to the consensus revenue estimate of $268.92 million.

When did Allegro MicroSystems IPO?

(ALGM) raised $325 million in an initial public offering 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 acted as the underwriters for the IPO and Jefferies, Mizuho Securities, Needham & Co. and SMBC Nikko were co-managers.

Who are Allegro MicroSystems' major shareholders?

Allegro MicroSystems' stock is owned by many different retail and institutional investors. Top institutional investors include FMR LLC (4.80%), JPMorgan Chase & Co. (2.11%), Clearbridge Investments LLC (1.82%), Allspring Global Investments Holdings LLC (1.73%), Invesco Ltd. (1.67%) and Principal Financial Group Inc. (1.11%). Insiders that own company stock include Christopher Brown, Derek D'antilio, 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, Thomas C Jr Teebagy and Vineet A Nargolwala.
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.

This page (NASDAQ:ALGM) was last updated on 12/6/2023 by MarketBeat.com Staff

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