Allegro MicroSystems (NASDAQ:ALGM) Price Target Raised to $55.00 at Needham & Company LLC

Allegro MicroSystems (NASDAQ:ALGM) had its target price raised by Needham & Company LLC from $45.00 to $55.00 in a research report report published on Thursday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Barclays upped their target price on Allegro MicroSystems from $35.00 to $46.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Morgan Stanley raised shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research note on Friday, February 13th. Wells Fargo & Company raised their target price on Allegro MicroSystems from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Jefferies Financial Group reiterated a “buy” rating and issued a $45.00 price target on shares of Allegro MicroSystems in a research report on Thursday, February 19th. Finally, TD Cowen raised their price objective on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and an average price target of $51.80.

Allegro MicroSystems Price Performance

Shares of Allegro MicroSystems stock traded up $0.55 during trading on Thursday, reaching $48.48. 1,191,489 shares of the company’s stock were exchanged, compared to its average volume of 2,413,793. The firm’s 50-day moving average price is $36.43 and its 200 day moving average price is $32.80. The company has a market cap of $8.98 billion, a P/E ratio of -606.20 and a beta of 2.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.39 and a current ratio of 3.65. Allegro MicroSystems has a 1-year low of $21.41 and a 1-year high of $51.40.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a positive return on equity of 4.35% and a negative net margin of 1.57%.The business’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, research analysts anticipate that Allegro MicroSystems will post 0.27 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its position in shares of Allegro MicroSystems by 136.6% during the third quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock worth $27,818,000 after purchasing an additional 3,556,410 shares during the period. Invesco Ltd. increased its stake in Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after purchasing an additional 2,338,624 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Allegro MicroSystems by 189.4% during the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock worth $94,360,000 after buying an additional 1,806,183 shares during the last quarter. Norges Bank bought a new position in shares of Allegro MicroSystems in the fourth quarter valued at $38,457,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of Allegro MicroSystems by 77.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock worth $73,968,000 after acquiring an additional 1,227,317 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems News Summary

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

• Positive Sentiment: Q4 / FY2026 results beat expectations: EPS $0.17 vs. $0.16 est., revenue $243.2M (+26% YoY) and FY sales growth of ~23% boosted confidence in the business recovery. GlobeNewswire: Q4 Results
• Positive Sentiment: Multiple broker upgrades and higher price targets (Wells Fargo to $56/overweight; Mizuho to $54/outperform; Needham to $55/buy) increase upside expectations and likely supported the rally. Benzinga: Analyst Coverage The Fly: Mizuho Note
• Positive Sentiment: Sell?side upside commentary (including a Morgan Stanley note highlighting further room to run) gives investors more conviction on longer?term upside. AOL/Morgan Stanley
• Neutral Sentiment: Q1 FY2027 guidance was updated to EPS $0.190–0.230 and revenue $245–255M, which overlaps consensus (EPS ~0.190, revenue ~$246.6M) — supportive but not clearly beat guidance, leaving room for mixed reactions. MarketBeat: Guidance & Call
• Negative Sentiment: Despite the beat, the stock experienced selling pressure after management’s “in?line” guidance comment; several headlines noted shares fell post?report as investors appeared to take profits and re?price forward expectations. Seeking Alpha: Shares Sinks MSN: Market Reaction

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.