Allegro MicroSystems (NASDAQ:ALGM) Earns Sell (D) Rating from Weiss Ratings

Allegro MicroSystems (NASDAQ:ALGM)‘s stock had its “sell (d)” rating reissued by equities researchers at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on ALGM. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. UBS Group increased their target price on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Needham & Company LLC increased their target price on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, July 31st. Morgan Stanley dropped their target price on shares of Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $36.78.

Allegro MicroSystems Trading Down 1.8%

ALGM opened at $27.76 on Wednesday. The stock has a market capitalization of $5.14 billion, a PE ratio of -75.02 and a beta of 1.72. The firm’s fifty day moving average price is $30.41 and its 200 day moving average price is $28.44. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. Allegro MicroSystems has a 12-month low of $16.38 and a 12-month high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $203.41 million for the quarter, compared to analysts’ expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, research analysts expect that Allegro MicroSystems will post 0.01 EPS for the current fiscal year.

Insider Activity at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the transaction, the chief accounting officer owned 17,300 shares in the company, valued at approximately $567,613. This represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Allegro MicroSystems

Several institutional investors have recently modified their holdings of ALGM. Fifth Third Bancorp grew its position in shares of Allegro MicroSystems by 63.7% during the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock worth $33,000 after acquiring an additional 504 shares during the last quarter. UMB Bank n.a. grew its position in shares of Allegro MicroSystems by 68.6% during the first quarter. UMB Bank n.a. now owns 1,420 shares of the company’s stock worth $36,000 after acquiring an additional 578 shares during the last quarter. DekaBank Deutsche Girozentrale bought a new position in Allegro MicroSystems in the 1st quarter valued at about $71,000. Nisa Investment Advisors LLC grew its position in Allegro MicroSystems by 158.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock valued at $76,000 after buying an additional 1,356 shares in the last quarter. Finally, Summit Securities Group LLC grew its position in Allegro MicroSystems by 257.8% in the 1st quarter. Summit Securities Group LLC now owns 4,000 shares of the company’s stock valued at $101,000 after buying an additional 2,882 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc, together with its subsidiaries, 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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.