Mizuho Reiterates Buy Rating for Allegro MicroSystems, Inc. (ALGM)
Mizuho maintains a buy rating on Allegro MicroSystems with a $67 price target, a 2.26% downside from the current price.
Key Points
- Mizuho reiterated its buy rating on Allegro MicroSystems, Inc. (ALGM) with a price target of $67 on June 29, 2026.
- Mizuho's $67 price target implies 2.26% downside from Allegro MicroSystems, Inc.'s ($ALGM) current $68.55 share price.
- Shares of ALGM traded near $57.89 on Monday, with a market cap of $10.79 billion and a forward P/E of 38.92.
- Recent insider activity includes sales by senior executives, while analysts maintain a strong buy consensus with varied price targets.
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Mizuho has reiterated its buy rating on Allegro MicroSystems, Inc. (NasdaqGS: ALGM) with a price target of $67. This announcement came on June 29, 2026, as the stock traded around $57.89.
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Allegro MicroSystems, Inc. Stock Up 91.6%
Shares of NasdaqGS:ALGM traded near $57.89 on Monday. Allegro MicroSystems has a market cap of approximately $10.79 billion. The forward P/E ratio stands at 38.92, and the stock has a beta of 1.978. Over the past 52 weeks, the stock has seen a low of $22.41 and a high of $61.67. It has a 50-day moving average of $48.18 and a 200-day moving average of $35.43. The company maintains a strong liquidity position with a current ratio of 3.45 and a quick ratio of 1.94, alongside a debt-to-equity ratio of 31.98.
$ALGM price target
Past daily closes and this analyst's 12-month price target. Not investment advice.
Recent Earnings
Allegro MicroSystems reported revenue of $890.1 million with a growth rate of 26.1%. However, the company is currently not profitable, with an EPS of -$0.08 and a net margin of -1.67%. The return on equity is also negative at -1.55%. The next earnings report is scheduled for July 30, 2026.
Insider Buying and Selling at Allegro MicroSystems, Inc.
Recent insider transactions at Allegro MicroSystems include a purchase by Brian White of 594 shares on June 17, 2026. Meanwhile, several executives have sold shares, including Richard Madormo, SVP of Worldwide Sales, who sold 5,000 shares on June 3, 2026, at an average price of $52.72. Other notable sales include Troy Coleman, SVP and General Manager of Products, who sold 4,500 shares on May 22, 2026.
Analysts Set New Price Targets
On June 29, 2026, Mizuho maintained its buy rating on the stock with a $67 price target. Other analysts have also shown confidence in Allegro MicroSystems. TD Cowen maintained a buy rating with a $70 target on June 22, 2026. UBS and Barclays both maintained buy ratings with price targets of $55 and $48, respectively, on May 8, 2026. The consensus among analysts is a strong buy, with a mean price target of $55.73 based on 11 analyst opinions.
About Allegro MicroSystems, Inc.
Allegro MicroSystems, Inc. designs and manufactures sensor integrated circuits and application-specific power ICs used in various electromechanical and power conversion systems. The company's products are primarily used in the automotive and industrial sectors, including advanced markets like AI data centers and robotics. Founded in 1990, Allegro is headquartered in Manchester, New Hampshire, and employs about 4,250 people.
Bottom Line
Mizuho's reiteration of its buy rating on Allegro MicroSystems, Inc. highlights continued analyst confidence. The stock's recent trading price and strong analyst ratings reflect positive market sentiment. However, investors should note that the company's financials indicate current challenges, with negative earnings and margins. As always, 13F filings and analyst ratings provide a snapshot of past positions and opinions, not current ones.
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