Allegro MicroSystems (ALGM) Stock Forecast & Price Target

$24.14

+0.96 (+4.14%)

(As of 02:37 PM ET)

Allegro MicroSystems - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy
Based on 9 Analyst Ratings

Based on 9 Wall Street analysts who have issued ratings for Allegro MicroSystems in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 9 analysts, 1 has given a hold rating, and 8 have given a buy rating for ALGM.

Consensus Price Target

$34.44
42.69% Upside

High Forecast	$37.00
Average Forecast	$34.44
Low Forecast	$32.00

According to the 9 analysts' twelve-month price targets for Allegro MicroSystems, the average price target is $34.44. The highest price target for ALGM is $37.00, while the lowest price target for ALGM is $32.00. The average price target represents a forecasted upside of 42.69% from the current price of $24.14.

Type	Current Forecast 9/20/23 to 9/19/24	1 Month Ago 8/21/23 to 8/20/24	3 Months Ago 6/22/23 to 6/21/24	1 Year Ago 9/20/22 to 9/20/23
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	8 Buy rating(s)	7 Buy rating(s)	7 Buy rating(s)	5 Buy rating(s)
Hold	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)	1 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$34.44	$34.63	$37.44	$52.33
Forecasted Upside	42.69% Upside	24.83% Upside	27.54% Upside	23.52% Upside

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ALGM Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ALGM Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Allegro MicroSystems Stock vs. The Competition

Type	Allegro MicroSystems	Computer and Technology Companies	S&P 500
Consensus Rating Score	2.89	2.65	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy
Predicted Upside	42.69% Upside	2,475.46% Upside	6.53% Upside
News Sentiment Rating	Neutral News	Neutral News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/3/2024	UBS Group 4 of 5 stars	T. Arcuri Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy	$33.00	+34.53%
8/2/2024	Needham & Company LLC 2 of 5 stars		Reiterated Rating	Buy ➝ Buy	$33.00 ➝ $33.00	+36.53%
6/13/2024	TD Cowen 4 of 5 stars		Boost Target	Buy ➝ Buy	$32.00 ➝ $35.00	+20.03%
5/13/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Buy ➝ Buy	$37.00	+34.55%
5/10/2024	Barclays Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$35.00 ➝ $32.00	+20.12%
5/10/2024	Mizuho Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$45.00 ➝ $35.00	+26.49%
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4/16/2024	Evercore ISI Subscribe to MarketBeat All Access for the recommendation accuracy rating		Initiated Coverage	Outperform	$36.00	+37.09%
2/2/2024	Wolfe Research Subscribe to MarketBeat All Access for the recommendation accuracy rating		Upgrade	Peer Perform ➝ Outperform	$35.00	+20.11%
10/10/2023	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target		$36.00 ➝ $34.00	+12.29%
7/26/2023	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$52.00 ➝ $60.00	+24.20%
2/2/2023	Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target		$44.00	+10.89%

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Thursday at 02:59 PM ET.

ALGM Forecast - Frequently Asked Questions

What is Allegro MicroSystems' forecast for 2024?: According to the research reports of 9 Wall Street equities research analysts, the average twelve-month stock price forecast for Allegro MicroSystems is $34.44, with a high forecast of $37.00 and a low forecast of $32.00.
Should I buy or sell Allegro MicroSystems stock right now?: 9 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Allegro MicroSystems in the last year. There is currently 1 hold rating and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" ALGM shares.
Does Allegro MicroSystems's stock price have much upside?: According to analysts, Allegro MicroSystems's stock has a predicted upside of 25.80% based on their 12-month stock forecasts.
What analysts cover Allegro MicroSystems?: Allegro MicroSystems has been rated by research analysts at Needham & Company LLC, and UBS Group in the past 90 days.
Do Wall Street analysts like Allegro MicroSystems more than its competitors?: Analysts like Allegro MicroSystems more than other "computer and technology" companies. The consensus rating score for Allegro MicroSystems is 2.89 while the average consensus rating score for "computer and technology" companies is 2.65. Learn more on how ALGM compares to other companies.