TD Cowen Reiterates Buy Rating for Allegro MicroSystems
TD Cowen maintains its buy rating on Allegro MicroSystems, targeting $70, a 21.32% upside from the current price.
Key Points
- TD Cowen reiterated its buy rating on Allegro MicroSystems, setting a price target of $70 on June 22, 2026.
- TD Cowen's $70 price target implies 21.32% upside from Allegro MicroSystems, Inc.'s ($ALGM) current $57.70 share price.
- Shares of NasdaqGS:ALGM traded at $58.83 on Monday, with a market cap of $10.99 billion and a forward P/E ratio of 40.06.
- FMR LLC increased its holdings by 3.79 million shares, while Vanguard opened a new position with 7.92 million shares.
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TD Cowen has reiterated its buy rating for Allegro MicroSystems, Inc. (NasdaqGS: ALGM) with a price target of $70. This reaffirmation came on June 22, 2026, as part of analyst Joshua Buchalter's ongoing coverage of the company.
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Other Institutional Activity in Allegro MicroSystems
FMR LLC grew its holdings by 3,785,460 shares, ending with 27,421,206 shares worth about $864.6 million. BlackRock, Inc. added 293,411 shares to hold a total of 12,494,868 shares valued at approximately $393.96 million. Meanwhile, Capital Research Global Investors cut its stake by 675,734 shares, now holding 12,435,558 shares worth about $392.09 million. Invesco Ltd. increased its position by 1,100,430 shares, bringing its total to 8,751,481 shares valued at $275.93 million. Vanguard Portfolio Management LLC opened a new position with 7,920,042 shares valued at $249.72 million.
Allegro MicroSystems, Inc. Stock Up 61.3%
Shares of Allegro MicroSystems traded near $58.83 on Monday. The company holds a market cap of approximately $10.99 billion with a forward P/E ratio of 40.06 and a beta of 1.978. Over the past year, the stock has ranged from a low of $22.41 to a high of $59.56. Its 50-day moving average stands at $46.13, while the 200-day moving average is $34.73. The company maintains a current ratio of 3.451 and a quick ratio of 1.944, with a debt-to-equity ratio of 31.984.
$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 posted a net margin of -1.67% and a return on equity of -1.55%. The next earnings report is expected on July 30, 2026.
Insider Buying and Selling at Allegro MicroSystems, Inc.
Recent insider activity includes Brian White purchasing 594 shares on June 17, 2026. On the selling side, Richard Madormo, SVP of Worldwide Sales, 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, selling 4,500 shares on May 22, 2026, at $45.72.
Analysts Set New Price Targets
On June 22, 2026, TD Cowen maintained its buy rating and set a $70 price target for Allegro MicroSystems. UBS, Barclays, Wells Fargo, and Evercore ISI Group also maintained their buy ratings earlier in May with targets ranging from $48 to $56. The analyst consensus is a strong buy with a mean target price of $54.36 based on 11 analyst opinions.
About Allegro MicroSystems
Allegro MicroSystems, Inc., headquartered in Manchester, New Hampshire, designs and manufactures sensor and power integrated circuits for the automotive and industrial sectors. The company offers a range of products, including magnetic sensor ICs and power ICs, used in complex systems for sensing, motion control, and power management. Allegro serves a global market, with operations across the Americas, Europe, and Asia.
Bottom Line
TD Cowen's reiteration of its buy rating for Allegro MicroSystems reflects ongoing confidence in the company's potential. With a market cap nearing $11 billion and a strong presence in the semiconductor industry, Allegro remains a key player. Investors should note that analyst ratings are backward-looking and reflect opinions at the time of the report.
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