Allegro MicroSystems (NASDAQ:ALGM) Given New $56.00 Price Target at Wells Fargo & Company

Allegro MicroSystems (NASDAQ:ALGM) had its target price upped by Wells Fargo & Company from $48.00 to $56.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Bank of America upped their price target on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Needham & Company LLC boosted their price objective on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Finally, Evercore reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Allegro MicroSystems in a research report on Friday. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Allegro MicroSystems Stock Up 2.1%

Allegro MicroSystems stock opened at $48.95 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.39 and a debt-to-equity ratio of 0.30. Allegro MicroSystems has a 1-year low of $21.41 and a 1-year high of $51.40. The firm’s fifty day simple moving average is $36.43 and its 200-day simple moving average is $32.80. The company has a market capitalization of $9.07 billion, a P/E ratio of -543.83 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The business had revenue of $243.19 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the previous year, the company earned $0.06 earnings per share. Allegro MicroSystems’s revenue for the quarter was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Sell-side analysts forecast that Allegro MicroSystems will post 0.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegro MicroSystems

A number of institutional investors have recently added to or reduced their stakes in the company. Parallel Advisors LLC increased its position in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after purchasing an additional 302 shares during the period. PNC Financial Services Group Inc. lifted its position in Allegro MicroSystems by 2.7% in the third quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company’s stock worth $430,000 after purchasing an additional 381 shares during the period. Hantz Financial Services Inc. boosted its stake in Allegro MicroSystems by 86.9% during the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after buying an additional 419 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Allegro MicroSystems by 3.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock valued at $376,000 after buying an additional 419 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in Allegro MicroSystems by 2.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company’s stock valued at $657,000 after buying an additional 466 shares during the period. 56.45% of the stock is owned by institutional investors and hedge funds.

Key Allegro MicroSystems News

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

• Positive Sentiment: Allegro MicroSystems beat quarterly expectations, reporting EPS of $0.17 versus $0.16 expected and revenue of $243.19 million versus $235.94 million expected, with sales up 26.1% year over year. Earnings Report and Transcript
• Positive Sentiment: The company’s Q1 2027 guidance also came in roughly in line to slightly above expectations, with EPS guidance of $0.19-$0.23 and revenue guidance of $245 million-$255 million, reinforcing confidence in near-term growth. Q4 and Fiscal 2026 Results
• Positive Sentiment: Wall Street sentiment turned more bullish, with Wells Fargo raising its target to $56 and Mizuho raising its target to $54, both implying further upside from recent trading levels. Analyst Target Raises
• Positive Sentiment: Needham also increased its target to $55 and maintained a buy rating, adding to the cluster of post-earnings upgrades and target hikes. Needham Target Raise
• Neutral Sentiment: Some market commentary noted that the shares had initially fallen after the beat-and-raise results, suggesting investors may have been focused on valuation or guidance being only in line rather than a major upside surprise. Stock Falls Despite Beat and Raise

About Allegro MicroSystems

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.