Allegro MicroSystems (NASDAQ:ALGM) Issues Q2 2027 Earnings Guidance

Allegro MicroSystems (NASDAQ:ALGM) updated its second quarter 2027 earnings guidance on Thursday morning. The company provided earnings per share guidance of 0.230-0.260 for the period, compared to the consensus earnings per share estimate of 0.230. The company issued revenue guidance of $265.0 million-$275.0 million, compared to the consensus revenue estimate of $264.5 million.

Allegro MicroSystems Trading Down 5.2%

ALGM opened at $42.21 on Thursday. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.86 billion, a P/E ratio of -468.95 and a beta of 1.90. Allegro MicroSystems has a 52 week low of $22.41 and a 52 week high of $71.77. The business has a fifty day simple moving average of $51.97 and a 200-day simple moving average of $42.52.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $259.24 million for the quarter, compared to analyst estimates of $251.44 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, equities analysts expect that Allegro MicroSystems will post 0.77 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ALGM. Wall Street Zen downgraded shares of Allegro MicroSystems from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. UBS Group lifted their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Mizuho boosted their price objective on Allegro MicroSystems from $54.00 to $67.00 and gave the stock an “outperform” rating in a research report on Monday, June 29th. Evercore reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, Barclays cut shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target for the company. in a report on Monday, July 20th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $55.20.

Insider Activity

In other Allegro MicroSystems news, CEO Michael Doogue sold 30,089 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the transaction, the chief executive officer owned 252,797 shares in the company, valued at $11,939,602.31. This represents a 10.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan D. Lynch sold 16,711 shares of the firm’s stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $45.46, for a total value of $759,682.06. Following the transaction, the director directly owned 12,805 shares in the company, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 68,607 shares of company stock worth $3,213,714 over the last three months. Company insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Allegro MicroSystems

A number of hedge funds have recently modified their holdings of ALGM. Kestra Advisory Services LLC acquired a new position in shares of Allegro MicroSystems in the 4th quarter valued at $34,000. CIBC Private Wealth Group LLC boosted its stake in Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd boosted its stake in Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares during the period. Federation des caisses Desjardins du Quebec purchased a new position in Allegro MicroSystems during the 4th quarter worth $57,000. Finally, NewEdge Advisors LLC increased its stake in Allegro MicroSystems by 12,315.0% in the third quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after purchasing an additional 2,463 shares during the period. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Allegro MicroSystems Company Profile

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.