Allegro MicroSystems (NASDAQ:ALGM) Shares Gap Down – Here’s Why

Posted by Stanley Muller on Jul 30th, 2026

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $46.80, but opened at $43.50. Allegro MicroSystems shares last traded at $42.4320, with a volume of 228,841 shares changing hands.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ALGM shares. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price target on shares of Allegro MicroSystems in a research note on Thursday, May 7th. TD Cowen dropped their price objective on shares of Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating for the company in a research note on Monday, July 13th. UBS Group boosted their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Finally, Wells Fargo & Company upped their target price on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.20.

Check Out Our Latest Analysis on ALGM

Allegro MicroSystems Trading Down 5.2%

The company has a 50-day moving average price of $51.97 and a two-hundred day moving average price of $42.52. The stock has a market cap of $7.86 billion, a P/E ratio of -468.95 and a beta of 1.90. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The company had revenue of $259.24 million during the quarter, compared to the consensus estimate of $251.44 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, research analysts expect that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Susan D. Lynch sold 16,711 shares of the firm’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $45.46, for a total value of $759,682.06. Following the completion of the sale, the director owned 12,805 shares in the company, valued at approximately $582,115.30. This trade represents a 56.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president directly owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 68,607 shares of company stock valued at $3,213,714. 0.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after acquiring an additional 2,338,624 shares during the last quarter. State Street Corp grew its position in Allegro MicroSystems by 1.5% in the 4th quarter. State Street Corp now owns 5,359,488 shares of the company’s stock valued at $141,383,000 after acquiring an additional 78,203 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its position in Allegro MicroSystems by 77.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after acquiring an additional 1,227,317 shares during the last quarter. Alliancebernstein L.P. increased its stake in Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock worth $94,360,000 after purchasing an additional 1,806,183 shares during the period. Finally, Geode Capital Management LLC increased its stake in Allegro MicroSystems by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,393,968 shares of the company’s stock worth $63,165,000 after purchasing an additional 24,839 shares during the period. Institutional investors own 56.45% of the company’s stock.

About Allegro MicroSystems

(Get Free Report)

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.