Allegro MicroSystems (NASDAQ:ALGM) Issues Q1 Earnings Guidance

Allegro MicroSystems (NASDAQ:ALGM) updated its first quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.02-0.03 for the period, compared to the consensus earnings per share estimate of $0.02. The company issued revenue guidance of $166-168 million, compared to the consensus revenue estimate of $165.04 million. Allegro MicroSystems also updated its Q1 2025 guidance to 0.020-0.030 EPS.

Wall Street Analyst Weigh In

ALGM has been the topic of a number of recent research reports. TD Cowen raised their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock a buy rating in a research report on Thursday, June 13th. Barclays lowered their price target on shares of Allegro MicroSystems from $35.00 to $32.00 and set an overweight rating for the company in a research report on Friday, May 10th. Evercore ISI assumed coverage on shares of Allegro MicroSystems in a research note on Tuesday, April 16th. They issued an outperform rating and a $36.00 price target on the stock. Needham & Company LLC reduced their price objective on Allegro MicroSystems from $40.00 to $33.00 and set a buy rating for the company in a research report on Friday, May 10th. Finally, Mizuho cut their target price on Allegro MicroSystems from $45.00 to $35.00 and set a buy rating on the stock in a research note on Friday, May 10th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $37.44.

Allegro MicroSystems Price Performance

NASDAQ:ALGM traded down $2.60 during mid-day trading on Wednesday, reaching $25.06. 2,405,233 shares of the stock were exchanged, compared to its average volume of 1,586,493. The company has a current ratio of 4.85, a quick ratio of 3.48 and a debt-to-equity ratio of 0.22. The business has a fifty day moving average price of $29.65 and a 200 day moving average price of $28.92. Allegro MicroSystems has a 1-year low of $23.64 and a 1-year high of $52.26. The firm has a market capitalization of $4.86 billion, a PE ratio of 31.97 and a beta of 1.67.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, May 9th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Allegro MicroSystems had a net margin of 14.55% and a return on equity of 20.67%. The business had revenue of $240.58 million for the quarter, compared to the consensus estimate of $235.00 million. Research analysts expect that Allegro MicroSystems will post 0.23 earnings per share for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In related news, Director Richard R. Lury sold 8,500 shares of Allegro MicroSystems stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $30.00, for a total value of $255,000.00. Following the transaction, the director now owns 23,001 shares of the company’s stock, valued at approximately $690,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is owned by insiders.

About Allegro MicroSystems

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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.