Brokerages Set Allegro MicroSystems, Inc. (NASDAQ:ALGM) Target Price at $39.00

by · The Cerbat Gem

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Free Report) have received an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $39.00.

A number of research analysts recently issued reports on the company. Bank of America decreased their price objective on Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, September 5th. Evercore ISI boosted their target price on Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Barclays raised their price target on shares of Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. TD Cowen lifted their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, UBS Group boosted their price objective on shares of Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 31st.

Get Our Latest Stock Analysis on Allegro MicroSystems

Hedge Funds Weigh In On Allegro MicroSystems

A number of large investors have recently modified their holdings of ALGM. Hantz Financial Services Inc. increased its position in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after acquiring an additional 419 shares during the last quarter. Quent Capital LLC bought a new position in Allegro MicroSystems in the third quarter valued at approximately $28,000. UMB Bank n.a. grew its stake in Allegro MicroSystems by 29.2% in the second quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock valued at $63,000 after purchasing an additional 415 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Allegro MicroSystems by 12,315.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock worth $73,000 after purchasing an additional 2,463 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in shares of Allegro MicroSystems by 158.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock worth $76,000 after purchasing an additional 1,356 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Trading Up 0.7%

Shares of NASDAQ:ALGM opened at $28.96 on Friday. Allegro MicroSystems has a 12 month low of $16.38 and a 12 month high of $38.45. The company has a quick ratio of 2.48, a current ratio of 3.89 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $27.66 and its 200 day simple moving average is $30.20. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of -181.00 and a beta of 1.62.

Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last announced its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 3.60% and a positive return on equity of 2.90%. The firm had revenue of $214.29 million during the quarter, compared to analyst estimates of $210.75 million. During the same period in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 14.4% compared to the same quarter last year. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. As a group, research analysts forecast that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Allegro MicroSystems Company Profile

(Get Free Report)

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.

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