Allegro MicroSystems (NASDAQ:ALGM) Releases Q1 Earnings Guidance

Allegro MicroSystems (NASDAQ:ALGM) updated its first quarter earnings guidance on Tuesday. The company provided EPS guidance of $0.02-0.03 for the period, compared to the consensus EPS 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.

Allegro MicroSystems Stock Down 9.4 %

Shares of NASDAQ:ALGM traded down $2.60 during trading on Wednesday, reaching $25.06. 2,405,233 shares of the stock traded hands, compared to its average volume of 1,586,493. Allegro MicroSystems has a 52-week low of $23.64 and a 52-week high of $52.26. The stock has a market cap of $4.86 billion, a P/E ratio of 31.97 and a beta of 1.67. The stock has a 50-day moving average of $29.65 and a two-hundred day moving average of $28.92. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.48 and a current ratio of 4.85.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Mizuho lowered their price objective on shares of Allegro MicroSystems from $45.00 to $35.00 and set a buy rating on the stock in a research report on Friday, May 10th. Jefferies Financial Group began coverage on shares of Allegro MicroSystems in a research report on Monday, May 13th. They issued a buy rating and a $37.00 price target on the stock. Barclays decreased their price target on shares of Allegro MicroSystems from $35.00 to $32.00 and set an overweight rating on the stock in a research report on Friday, May 10th. TD Cowen increased 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. Finally, Needham & Company LLC decreased their price target on shares of Allegro MicroSystems from $40.00 to $33.00 and set a buy rating on the stock in a research report on Friday, May 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $37.44.

Insider Activity at Allegro MicroSystems

In related news, Director Richard R. Lury sold 8,500 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $30.00, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 23,001 shares of the company’s stock, valued at $690,030. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.50% of the stock is currently owned by corporate 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.