Allegro MicroSystems (NASDAQ:ALGM) Issues Quarterly Earnings Results

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) released its quarterly earnings results on Thursday. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02, Briefing.com reports. The business had revenue of $187.39 million for the quarter, compared to analyst estimates of $187.52 million. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.47%. The company's quarterly revenue was down 32.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. Allegro MicroSystems updated its Q3 guidance to $0.04-0.08 EPS and its Q3 2025 guidance to 0.040-0.080 EPS.

Allegro MicroSystems Trading Up 1.2 %

NASDAQ:ALGM traded up $0.26 during trading hours on Friday, reaching $21.10. 2,519,452 shares of the company were exchanged, compared to its average volume of 1,896,749. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.22 and a quick ratio of 2.98. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -150.70 and a beta of 1.69. Allegro MicroSystems has a 52-week low of $19.71 and a 52-week high of $33.26. The stock has a 50 day simple moving average of $22.24 and a 200 day simple moving average of $25.91.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Needham & Company LLC lowered their price target on shares of Allegro MicroSystems from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday. Mizuho set a $26.00 price objective on shares of Allegro MicroSystems in a research note on Friday, October 18th. Barclays reduced their price objective on shares of Allegro MicroSystems from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday. Finally, UBS Group began coverage on shares of Allegro MicroSystems in a research note on Tuesday, September 3rd. They set a "buy" rating and a $33.00 price objective on the stock. Eight analysts have rated the stock with a buy rating, According to MarketBeat.com, Allegro MicroSystems presently has a consensus rating of "Buy" and a consensus price target of $32.13.

Insiders Place Their Bets

In other news, major shareholder Electric Co. Ltd. Sanken sold 10,017,315 shares of the firm's stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $23.16, for a total value of $232,001,015.40. Following the transaction, the insider now owns 59,732,782 shares of the company's stock, valued at approximately $1,383,411,231.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.50% of the stock is currently 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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.