Allegro MicroSystems, Inc. Forecasted to Earn FY2025 Earnings of $1.31 Per Share (NASDAQ:ALGM)

Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Rating) – Equities researchers at Jefferies Financial Group issued their FY2025 earnings per share estimates for Allegro MicroSystems in a note issued to investors on Tuesday, March 14th. Jefferies Financial Group analyst M. Lipacis expects that the company will post earnings per share of $1.31 for the year. The consensus estimate for Allegro MicroSystems’ current full-year earnings is $1.00 per share. Jefferies Financial Group also issued estimates for Allegro MicroSystems’ FY2026 earnings at $1.69 EPS.

Other research analysts also recently issued research reports about the company. Needham & Company LLC lifted their price objective on Allegro MicroSystems from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their price target on Allegro MicroSystems from $43.00 to $52.00 in a report on Thursday, March 9th. Cowen boosted their price target on Allegro MicroSystems to $44.00 in a report on Thursday, February 2nd. Cowen boosted their price target on Allegro MicroSystems from $38.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, February 1st. Finally, Barclays lifted their price objective on Allegro MicroSystems from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $48.00.

Allegro MicroSystems Stock Up 3.5 %

ALGM opened at $46.03 on Thursday. The company has a market cap of $8.82 billion, a P/E ratio of 59.78 and a beta of 1.71. The business’s 50-day moving average price is $40.04 and its 200-day moving average price is $31.01. The company has a current ratio of 4.52, a quick ratio of 3.65 and a debt-to-equity ratio of 0.03. Allegro MicroSystems has a 12 month low of $19.20 and a 12 month high of $47.67.

Allegro MicroSystems (NASDAQ:ALGM – Get Rating) last released its quarterly earnings results on Tuesday, January 31st. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Allegro MicroSystems had a return on equity of 19.55% and a net margin of 16.69%. The business had revenue of $248.79 million for the quarter, compared to the consensus estimate of $245.20 million.

Institutional Investors Weigh In On Allegro MicroSystems

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Allegro MicroSystems by 4.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,633,415 shares of the company’s stock valued at $144,940,000 after buying an additional 263,189 shares during the last quarter. Invesco Ltd. increased its stake in shares of Allegro MicroSystems by 4.3% in the 1st quarter. Invesco Ltd. now owns 4,152,293 shares of the company’s stock worth $117,924,000 after purchasing an additional 170,171 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Allegro MicroSystems by 0.3% in the 2nd quarter. Clearbridge Investments LLC now owns 4,041,136 shares of the company’s stock worth $83,611,000 after purchasing an additional 11,190 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Allegro MicroSystems by 1.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,968,824 shares of the company’s stock worth $82,116,000 after purchasing an additional 75,022 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in shares of Allegro MicroSystems by 1.5% in the 3rd quarter. Alliancebernstein L.P. now owns 3,104,475 shares of the company’s stock worth $67,833,000 after purchasing an additional 44,623 shares in the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Allegro MicroSystems

In related news, SVP Joanne Valente sold 1,377 shares of the company’s stock in a transaction that occurred on Friday, January 6th. The stock was sold at an average price of $30.00, for a total value of $41,310.00. Following the transaction, the senior vice president now directly owns 95,776 shares of the company’s stock, valued at approximately $2,873,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allegro MicroSystems news, SVP Max R. Glover sold 15,000 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $32.06, for a total transaction of $480,900.00. Following the completion of the sale, the senior vice president now directly owns 259,689 shares in the company, valued at approximately $8,325,629.34. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Joanne Valente sold 1,377 shares of the business’s stock in a transaction on Friday, January 6th. The shares were sold at an average price of $30.00, for a total transaction of $41,310.00. Following the sale, the senior vice president now owns 95,776 shares of the company’s stock, valued at $2,873,280. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,068,500 shares of company stock valued at $191,316,709. 13.60% of the stock is owned by corporate insiders.

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.