Allegro MicroSystems (NASDAQ:ALGM) Updates Q1 Earnings Guidance

Allegro MicroSystems (NASDAQ:ALGM) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $0.01-$0.03 for the period, compared to the consensus EPS estimate of $0.17. The company issued revenue guidance of $160-$170 million, compared to the consensus revenue estimate of $213.50 million.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM opened at $29.36 on Thursday. The company has a market capitalization of $5.67 billion, a PE ratio of 25.75 and a beta of 1.72. The business has a fifty day moving average price of $28.29 and a 200-day moving average price of $28.39. 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.

Wall Street Analyst Weigh In

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

Allegro MicroSystems Company Profile

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.