Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Rating) have been given a consensus rating of "Buy" by the seven ratings firms that are presently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $32.50.
Several research firms have issued reports on ALGM. Wells Fargo & Company lowered their target price on shares of Allegro MicroSystems from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Monday, July 11th. Needham & Company LLC upped their target price on shares of Allegro MicroSystems from $25.00 to $27.00 and gave the company a "buy" rating in a research note on Friday, July 29th. Finally, Barclays reduced their price target on shares of Allegro MicroSystems from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, July 25th.
Get Allegro MicroSystems alerts:Allegro MicroSystems Stock Performance
Shares of Allegro MicroSystems stock opened at $23.26 on Thursday. The stock has a market cap of $4.45 billion, a price-to-earnings ratio of 44.73 and a beta of 1.77. The firm's 50-day moving average is $23.93 and its 200 day moving average is $24.04. Allegro MicroSystems has a 1 year low of $19.20 and a 1 year high of $38.28. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.73 and a quick ratio of 3.94.
Allegro MicroSystems (NASDAQ:ALGM – Get Rating) last posted its earnings results on Thursday, July 28th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.10). The company had revenue of $217.80 million for the quarter, compared to the consensus estimate of $207.63 million. Allegro MicroSystems had a net margin of 13.44% and a return on equity of 15.32%. Allegro MicroSystems's revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.16 EPS. Sell-side analysts anticipate that Allegro MicroSystems will post 0.8 EPS for the current fiscal year.Institutional Investors Weigh In On Allegro MicroSystems
Hedge funds and other institutional investors have recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in Allegro MicroSystems in the 4th quarter worth approximately $33,000. PNC Financial Services Group Inc. increased its holdings in Allegro MicroSystems by 201.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,158 shares of the company's stock worth $33,000 after acquiring an additional 774 shares in the last quarter. CWM LLC increased its holdings in Allegro MicroSystems by 3,469.2% in the 2nd quarter. CWM LLC now owns 1,392 shares of the company's stock worth $29,000 after acquiring an additional 1,353 shares in the last quarter. Quent Capital LLC purchased a new stake in Allegro MicroSystems in the 4th quarter worth approximately $62,000. Finally, Assetmark Inc. increased its holdings in Allegro MicroSystems by 145.3% in the 2nd quarter. Assetmark Inc. now owns 1,874 shares of the company's stock worth $39,000 after acquiring an additional 1,110 shares in the last quarter. Hedge funds and other institutional investors own 46.10% of the company's stock.
Allegro MicroSystems Company Profile
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Allegro MicroSystems, Inc 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; power ICs comprising motor driver ICs, and regulator and LED driver ICs; and photonic and 3D sensing components, including photodiodes, eye-safe lasers, and readout ICs for LiDAR applications.
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