Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) have earned an average recommendation of “Moderate Buy” from the twelve analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and ten have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $45.00.

ALGM has been the subject of a number of research analyst reports. Barclays lifted their price objective on shares of Allegro MicroSystems from $35.00 to $46.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. TD Cowen raised their target price on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. 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. Bank of America upped their price target on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Finally, UBS Group raised their price objective on shares of Allegro MicroSystems from $40.00 to $44.00 and gave the stock a “buy” rating in a research report on Friday, January 30th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Allegro MicroSystems by 2.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company’s stock worth $430,000 after buying an additional 381 shares during the period. Hantz Financial Services Inc. grew its stake 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 in the last quarter. Vanguard Personalized Indexing Management LLC increased its position in Allegro MicroSystems by 3.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock worth $376,000 after acquiring an additional 419 shares during the period. Advisors Asset Management Inc. increased its position in Allegro MicroSystems by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company’s stock worth $657,000 after acquiring an additional 466 shares during the period. Finally, Retirement Systems of Alabama raised its stake in Allegro MicroSystems by 0.3% in the 2nd quarter. Retirement Systems of Alabama now owns 200,781 shares of the company’s stock worth $6,865,000 after purchasing an additional 668 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM opened at $36.77 on Friday. The company has a quick ratio of 2.39, a current ratio of 3.65 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average price is $34.08 and its two-hundred day moving average price is $30.65. The company has a market cap of $6.81 billion, a PE ratio of -459.63 and a beta of 1.63. Allegro MicroSystems has a twelve month low of $16.38 and a twelve month high of $43.86.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, January 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $229.21 million during the quarter, compared to analysts’ expectations of $220.78 million. Allegro MicroSystems had a positive return on equity of 4.35% and a negative net margin of 1.57%.The business’s revenue was up 28.9% on a year-over-year basis. During the same period last year, the firm posted $0.07 earnings per share. On average, analysts predict that Allegro MicroSystems will post 0.01 EPS for the current year.

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.