Allegro MicroSystems (ALGM) to Release Earnings on Thursday

Allegro MicroSystems (NASDAQ:ALGM) is scheduled to be releasing its earnings data before the market opens on Thursday, May 9th. Analysts expect Allegro MicroSystems to post earnings of $0.21 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Allegro MicroSystems Trading Up 0.7 %

Shares of NASDAQ ALGM opened at $30.29 on Wednesday. Allegro MicroSystems has a 1-year low of $24.66 and a 1-year high of $53.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.57 and a quick ratio of 3.19. The business’s 50 day moving average is $28.33 and its two-hundred day moving average is $28.37. The stock has a market capitalization of $5.85 billion, a P/E ratio of 26.57 and a beta of 1.72.

Wall Street Analysts Forecast Growth

ALGM has been the subject of several research analyst reports. Wolfe Research upgraded Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research report on Friday, February 2nd. TD Cowen upped their target price on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Evercore ISI started coverage on shares of Allegro MicroSystems in a research note on Tuesday, April 16th. They set an “outperform” rating and a $36.00 price target for the company. Finally, Needham & Company LLC dropped their price objective on Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, February 2nd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $44.50.

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.