Allegro MicroSystems (NASDAQ:ALGM) Stock Price Target Lowered at Wells Fargo & Company

Allegro MicroSystems (NASDAQ:ALGM) had its price objective reduced by research analysts at Wells Fargo & Company from $45.00 to $40.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 32.63% from the company’s previous close.

ALGM has been the subject of several other reports. TD Cowen dropped their target price on Allegro MicroSystems from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Morgan Stanley boosted their price target on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, July 31st. Mizuho lowered their price objective on Allegro MicroSystems from $58.00 to $46.00 and set an “outperform” rating for the company in a research note on Friday. Royal Bank Of Canada assumed coverage on Allegro MicroSystems in a research note on Friday, October 2nd. They issued an “outperform” rating and a $50.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Allegro MicroSystems from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.33.

Allegro MicroSystems Price Performance

Shares of ALGM traded down $2.87 during trading hours on Friday, reaching $30.16. The stock had a trading volume of 2,080,192 shares, compared to its average volume of 2,632,822. Allegro MicroSystems has a 12 month low of $22.41 and a 12 month high of $71.77. The stock has a market capitalization of $5.62 billion, a PE ratio of 502.03, a PEG ratio of 1.11 and a beta of 1.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The company’s 50-day moving average is $35.23 and its two-hundred day moving average is $40.66.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. The company had revenue of $276.88 million for the quarter, compared to the consensus estimate of $270.86 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%. Allegro MicroSystems’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Research analysts expect that Allegro MicroSystems will post 0.65 EPS for the current year.

Insider Activity

In other news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total value of $101,431.15. Following the sale, the senior vice president directly owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.50% of the company’s stock.

Institutional Trading of Allegro MicroSystems

Large investors have recently modified their holdings of the stock. Transamerica Financial Advisors LLC bought a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at $27,000. Rakuten Securities Inc. bought a new position in Allegro MicroSystems during the second quarter worth $31,000. Parallel Advisors LLC boosted its stake in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares in the last quarter. Continuum Advisory LLC bought a new position in Allegro MicroSystems during the second quarter worth $35,000. Finally, Signaturefd LLC grew its holdings in Allegro MicroSystems by 51.3% in the third quarter. Signaturefd LLC now owns 1,070 shares of the company’s stock worth $39,000 after purchasing an additional 363 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

More Allegro MicroSystems News

Here are the key news stories impacting Allegro MicroSystems this week:

• Positive Sentiment: Allegro reported second-quarter fiscal 2027 revenue of approximately $277 million, up 29% year over year and ahead of the $270.9 million consensus estimate. EPS of $0.26 also exceeded expectations, while GAAP EPS quadrupled and non-GAAP EPS doubled from the prior year. Industrial, other, and data-center sales reached records. Allegro MicroSystems Reports Second Quarter 2027 Results
• Positive Sentiment: The company said demand signals strengthened significantly and inventory levels improved, supporting the outlook for recovery in its semiconductor markets. Allegro MicroSystems Sinks Despite Earnings Beat
• Positive Sentiment: UBS maintained its Buy rating, reducing its price target modestly to $48 from $50, indicating continued confidence in Allegro’s longer-term potential. UBS Adjusts Price Target on Allegro MicroSystems
• Neutral Sentiment: Analysts continue to see substantial potential upside at the current price, but target prices were broadly reset lower following the results: Mizuho cut its target to $46 from $58 while retaining Outperform, and Needham reduced its target to $50 from $57 while keeping Buy.
• Negative Sentiment: Barclays lowered its target to $45 from $48 and assigned an Equal Weight rating. The series of forecast reductions appears to have outweighed the earnings beat in the near term, contributing to the stock’s decline. Analysts Cut Forecasts After Q2 Results

About Allegro MicroSystems

Allegro MicroSystems, Inc is a semiconductor company that develops and manufactures magnetic sensing and power-management solutions. Its products are designed to help monitor motion, position, speed, current and temperature, as well as control power in electronic systems.

The company’s portfolio includes Hall-effect and other magnetic sensors, current sensors, motor drivers, regulators, LED drivers and related integrated circuits. These products are used in automotive applications such as advanced driver-assistance systems, vehicle electrification, powertrain systems, comfort features and safety systems, as well as in industrial and consumer equipment.

Founded in 1990 and headquartered in Manchester, New Hampshire, Allegro serves customers globally through its international operations and distribution network.