Allegro MicroSystems (ALGM) Scheduled to Post Earnings on Thursday

Allegro MicroSystems (NASDAQ:ALGM) is scheduled to be posting its quarterly earnings results before the market opens on Thursday, August 1st. Analysts expect Allegro MicroSystems to post earnings of $0.02 per share for the quarter. Allegro MicroSystems has set its Q1 guidance at $0.01-$0.03 EPS and its Q1 2025 guidance at 0.010-0.030 EPS.Persons interested in listening to the company’s earnings conference call can do so using this link.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.17 by $0.02. The business had revenue of $240.58 million for the quarter, compared to the consensus estimate of $235.00 million. Allegro MicroSystems had a net margin of 14.55% and a return on equity of 20.67%.

Allegro MicroSystems Price Performance

ALGM opened at $22.43 on Wednesday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 28.76 and a beta of 1.68. The company has a quick ratio of 3.48, a current ratio of 4.85 and a debt-to-equity ratio of 0.22. The firm has a 50-day moving average price of $29.07 and a 200-day moving average price of $28.81. Allegro MicroSystems has a twelve month low of $22.31 and a twelve month high of $52.26.

Insiders Place Their Bets

In other news, Director Richard R. Lury sold 8,500 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was 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 owns 23,001 shares of the company’s stock, valued at $690,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Evercore ISI began coverage on shares of Allegro MicroSystems in a report on Tuesday, April 16th. They set an “outperform” rating and a $36.00 target price on the stock. Barclays dropped their price objective on Allegro MicroSystems from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Friday, May 10th. Jefferies Financial Group assumed coverage on Allegro MicroSystems in a research note on Monday, May 13th. They issued a “buy” rating and a $37.00 target price for the company. Needham & Company LLC decreased their price target on Allegro MicroSystems from $40.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, May 10th. Finally, TD Cowen raised their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $34.63.

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.