Allegro MicroSystems, Inc. (NASDAQ:ALGM) Given Consensus … – MarketBeat

Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Rating) have been given an average recommendation of “Buy” by the seven analysts that are covering the firm, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $30.80.

ALGM has been the subject of a number of research analyst reports. Mizuho decreased their price target on shares of Allegro MicroSystems from $42.00 to $38.00 and set a “buy” rating for the company in a report on Friday, October 28th. TheStreet raised shares of Allegro MicroSystems from a “c” rating to a “b-” rating in a report on Wednesday, November 16th. Finally, Needham & Company LLC raised their price target on shares of Allegro MicroSystems from $27.00 to $30.00 and gave the stock a “buy” rating in a report on Thursday, October 27th.

Insider Transactions at Allegro MicroSystems

In other news, SVP Michael Doogue sold 26,665 shares of the stock in a transaction on Friday, November 11th. The shares were sold at an average price of $28.81, for a total value of $768,218.65. Following the sale, the senior vice president now owns 192,054 shares in the company, valued at $5,533,075.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Michael Doogue sold 26,665 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $28.81, for a total transaction of $768,218.65. Following the sale, the senior vice president now owns 192,054 shares in the company, valued at $5,533,075.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph R. Martin sold 16,349 shares of the firm’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $25.92, for a total transaction of $423,766.08. Following the sale, the director now owns 35,536 shares in the company, valued at approximately $921,093.12. The disclosure for this sale can be found here. Insiders have sold 53,196 shares of company stock worth $1,486,290 over the last 90 days. 13.60% of the stock is currently owned by company insiders.

Institutional Trading of Allegro MicroSystems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALGM. Raymond James & Associates grew its position in shares of Allegro MicroSystems by 6.3% in the first quarter. Raymond James & Associates now owns 43,038 shares of the company’s stock valued at $1,222,000 after purchasing an additional 2,550 shares during the period. US Bancorp DE grew its position in shares of Allegro MicroSystems by 981.5% in the first quarter. US Bancorp DE now owns 2,455 shares of the company’s stock valued at $70,000 after purchasing an additional 2,228 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Allegro MicroSystems by 201.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,158 shares of the company’s stock valued at $33,000 after purchasing an additional 774 shares during the period. AlphaCrest Capital Management LLC acquired a new stake in shares of Allegro MicroSystems in the first quarter valued at about $317,000. Finally, MetLife Investment Management LLC acquired a new stake in shares of Allegro MicroSystems in the first quarter valued at about $74,000. Institutional investors and hedge funds own 46.89% of the company’s stock.

Allegro MicroSystems Trading Up 4.3 %

NASDAQ:ALGM opened at $30.10 on Friday. Allegro MicroSystems has a 52 week low of $19.20 and a 52 week high of $34.14. The firm has a 50 day moving average of $29.66 and a 200 day moving average of $25.17. The company has a quick ratio of 3.96, a current ratio of 4.84 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 49.34 and a beta of 1.68.

Allegro MicroSystems (NASDAQ:ALGM – Get Rating) last posted its earnings results on Thursday, October 27th. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.05. The company had revenue of $237.70 million during the quarter, compared to analysts’ expectations of $225.03 million. Allegro MicroSystems had a net margin of 14.87% and a return on equity of 16.87%. Allegro MicroSystems’s revenue for the quarter was up 22.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.17 earnings per share. As a group, sell-side analysts anticipate that Allegro MicroSystems will post 0.9 earnings per share for the current fiscal year.

About Allegro MicroSystems

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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.