Allegro MicroSystems, Inc. (NASDAQ:ALGM – Get Free Report) CFO Derek D’antilio purchased 1,488 shares of Allegro MicroSystems stock in a transaction that occurred on Friday, September 15th. The stock was purchased at an average cost of $33.63 per share, for a total transaction of $50,041.44. Following the completion of the purchase, the chief financial officer now owns 142,899 shares of the company’s stock, valued at $4,805,693.37. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Allegro MicroSystems Stock Performance
Allegro MicroSystems stock traded up $0.41 during midday trading on Monday, reaching $33.20. 1,052,372 shares of the company traded hands, compared to its average volume of 1,534,324. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.56 and a quick ratio of 3.43. Allegro MicroSystems, Inc. has a 12 month low of $19.80 and a 12 month high of $53.05. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 27.24 and a beta of 1.80. The business has a 50 day moving average of $41.96 and a two-hundred day moving average of $41.98.
Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $278.29 million for the quarter, compared to the consensus estimate of $275.00 million. Allegro MicroSystems had a return on equity of 26.17% and a net margin of 23.67%. As a group, research analysts predict that Allegro MicroSystems, Inc. will post 1.25 earnings per share for the current year.
Institutional Investors Weigh In On Allegro MicroSystems
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on ALGM shares. Needham & Company LLC reissued a “buy” rating and issued a $50.00 target price on shares of Allegro MicroSystems in a report on Wednesday, August 9th. Wolfe Research started coverage on shares of Allegro MicroSystems in a research report on Wednesday, July 19th. They set a “market perform” rating on the stock. Mizuho lifted their target price on shares of Allegro MicroSystems from $50.00 to $56.00 in a report on Thursday, July 20th. Wells Fargo & Company raised their price target on shares of Allegro MicroSystems from $52.00 to $60.00 in a research report on Wednesday, July 26th. Finally, Barclays upped their price objective on Allegro MicroSystems from $50.00 to $60.00 in a research report on Thursday, July 20th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.33.
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.
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