Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Free Report) have earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $51.80.
A number of equities research analysts have commented on the stock. Mizuho raised their target price on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Morgan Stanley raised shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a report on Friday, February 13th. Evercore reissued an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, UBS Group raised their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th.
Allegro MicroSystems Price Performance
Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The firm had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter in the prior year, the business earned $0.06 EPS. The business’s quarterly revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities research analysts expect that Allegro MicroSystems will post 0.77 EPS for the current year.
Insider Activity at Allegro MicroSystems
In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of Allegro MicroSystems stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the transaction, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at $588,197.28. The trade was a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Susan D. Lynch sold 16,711 shares of Allegro MicroSystems stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total transaction of $759,682.06. Following the transaction, the director directly owned 12,805 shares of the company’s stock, valued at $582,115.30. The trade was a 56.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 68,607 shares of company stock valued at $3,213,714 over the last three months. Corporate insiders own 0.40% of the company’s stock.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of ALGM. Royal Bank of Canada boosted its stake in Allegro MicroSystems by 70.0% during the first quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after buying an additional 48,554 shares during the period. AQR Capital Management LLC purchased a new position in Allegro MicroSystems during the first quarter worth $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Allegro MicroSystems by 31.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock worth $8,911,000 after buying an additional 85,607 shares during the period. Prudential Financial Inc. boosted its stake in Allegro MicroSystems by 24.0% during the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock worth $536,000 after buying an additional 3,040 shares during the period. Finally, First Trust Advisors LP boosted its stake in Allegro MicroSystems by 5.4% during the second quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock worth $19,710,000 after buying an additional 29,531 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.
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.
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