Allegro MicroSystems (ALGM) – Research Analysts’ Recent Ratings Updates

A number of research firms have changed their ratings and price targets for Allegro MicroSystems (NASDAQ: ALGM):

• 11/12/2024 – Allegro MicroSystems is now covered by analysts at Loop Capital. They set a “buy” rating and a $30.00 price target on the stock.
• 11/7/2024 – Allegro MicroSystems is now covered by analysts at Morgan Stanley. They set an “equal weight” rating and a $21.00 price target on the stock.
• 11/1/2024 – Allegro MicroSystems had its price target lowered by analysts at Barclays PLC from $32.00 to $25.00. They now have an “overweight” rating on the stock.
• 10/31/2024 – Allegro MicroSystems had its price target lowered by analysts at Needham & Company LLC from $33.00 to $30.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Allegro MicroSystems was given a new $26.00 price target on by analysts at Mizuho.

Allegro MicroSystems Stock Performance

Shares of Allegro MicroSystems stock opened at $19.07 on Monday. The firm’s fifty day simple moving average is $21.66 and its 200-day simple moving average is $25.39. Allegro MicroSystems, Inc. has a 12 month low of $18.59 and a 12 month high of $33.26. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of -136.20 and a beta of 1.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.22 and a quick ratio of 2.80.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.48%. The company had revenue of $187.39 million for the quarter, compared to analyst estimates of $187.52 million. During the same period in the previous year, the business posted $0.36 earnings per share. Allegro MicroSystems’s quarterly revenue was down 32.0% on a year-over-year basis.

Institutional Trading of Allegro MicroSystems

A number of hedge funds have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC raised its stake in shares of Allegro MicroSystems by 6.7% during the first quarter. Clearbridge Investments LLC now owns 3,731,268 shares of the company’s stock worth $100,595,000 after purchasing an additional 235,335 shares during the last quarter. Silvercrest Asset Management Group LLC raised its position in Allegro MicroSystems by 363.0% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 632,546 shares of the company’s stock worth $17,053,000 after buying an additional 495,935 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Allegro MicroSystems by 238.9% in the 1st quarter. Russell Investments Group Ltd. now owns 55,734 shares of the company’s stock worth $1,503,000 after acquiring an additional 39,289 shares during the period. XTX Topco Ltd purchased a new stake in shares of Allegro MicroSystems in the second quarter valued at about $856,000. Finally, Principal Financial Group Inc. increased its stake in shares of Allegro MicroSystems by 14.1% during the third quarter. Principal Financial Group Inc. now owns 2,499,760 shares of the company’s stock worth $58,244,000 after acquiring an additional 308,943 shares during the period. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.