Allegro Microsystems Inc. shares rose by 6.49% as the stock crossed above its 5-day SMA, reflecting positive market sentiment ahead of its upcoming earnings report.
The company is set to announce its Q3 2023 earnings on January 29, with a consensus EPS estimate of $0.14, indicating a 100% year-over-year increase. Additionally, Allegro anticipates Q3 revenues between $215 million and $225 million, representing a 24.2% year-over-year growth, driven by momentum in the automotive and data center sectors. The company's historical performance shows it has consistently beaten EPS estimates 100% of the time, showcasing strong market confidence.
This upcoming earnings report is expected to further solidify Allegro's reputation for strong profitability and growth, particularly in the automotive and data center markets, which are critical for its future performance.
Wall Street analysts forecast ALGM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALGM is 39.14 USD with a low forecast of 35.00 USD and a high forecast of 49.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
Wall Street analysts forecast ALGM stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ALGM is 39.14 USD with a low forecast of 35.00 USD and a high forecast of 49.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Buy
0 Hold
0 Sell
Strong Buy
Current: 34.550
Low
35.00
Averages
39.14
High
49.00
Current: 34.550
Low
35.00
Averages
39.14
High
49.00
Barclays
Tom O'Malley
Overweight
maintain
$35 -> $46
2026-01-30
New
Reason
Barclays
Tom O'Malley
Price Target
$35 -> $46
AI Analysis
2026-01-30
New
maintain
Overweight
Reason
Barclays analyst Tom O'Malley raised the firm's price target on Allegro MicroSystems to $46 from $35 and keeps an Overweight rating on the shares following the earnings report. The company's auto business continues to grow with an emerging data center "story as gravy on top," the analyst tells investors in a research note.
BofA
Vivek Arya
Buy
maintain
$36 -> $39
2026-01-21
Reason
BofA
Vivek Arya
Price Target
$36 -> $39
2026-01-21
maintain
Buy
Reason
BofA analyst Vivek Arya raised the firm's price target on Allegro MicroSystems to $39 from $36 and keeps a Buy rating on the shares. The firm raised price targets for most of its diversified analog semi stock coverage, noting that it expects modest calendar Q4 beats and Q1 raises across the board led by industrial semis given ongoing rebounds across most subsegments, favorable pricing, and robust growth in strategic AI businesses.
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Wells Fargo
Joe Quatrochi
Overweight
initiated
$40
2026-01-05
Reason
Wells Fargo
Joe Quatrochi
Price Target
$40
2026-01-05
initiated
Overweight
Reason
Wells Fargo analyst Joe Quatrochi added Allegro MicroSystems to the firm's Q1 2026 Tactical Ideas List. Wells expects positive Q4 2025 EPS to highlight a cont'd improvement in leading indicators as inv / sell-through dynamics normalize. The firm further expects Allegro's analyst day to be a positive catalyst for shares as it believes it will highlight positive content gain opportunities. Wells has an Overweight rating on the shares with a price target of $40.
Mizuho
Outperform
to
NULL
downgrade
$40 -> $38
2025-12-16
Reason
Mizuho
Price Target
$40 -> $38
2025-12-16
downgrade
Outperform
to
NULL
Reason
Mizuho lowered the firm's price target on Allegro MicroSystems to $38 from $40 and keeps an Outperform rating on the shares. The firm adjusted targets in the semiconductors and semiconductor capital equipment group heading into 2026. U.S. electric vehicle sales were down 20%-50% month-over-month in October and November, and 2026 launch cancels and delays will be a headwind in 2026, the analyst tells investors in a research note. Mizuho sees a mixed sector outlook with EV headwinds for the analog and auto component supply chain, with industrials potentially performing better.
About ALGM
Allegro MicroSystems, Inc. is engaged in power and sensing semiconductor solutions for motion control and energy-efficient systems. The Company is a global designer, developer, fabless manufacturer and marketer of sensor integrated circuits (ICs) and application-specific power ICs, enabling the important emerging technologies in the automotive and industrial markets. Its sensor ICs enable its customers to measure motion, speed, position and current, while its power ICs include high-temperature and high-voltage capable motor drivers, power management ICs, light-emitting diode (LED) driver ICs and isolated gate drivers. Its product portfolio includes over 1,500 products across a range of high-performance analog mixed-signal semiconductors. The Company also offers tunneling magnetoresistance (TMR) sensor solutions that provide the highest magnetic sensitivity, lowest power consumption, and the smallest size by comparison to other magnetic technologies.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
