Jefferies Assumes Allegro Microsystems at Buy, Announces Price Target of $37
$ALGM
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Jefferies analyst Blayne Curtis assumes Allegro Microsystems (NASDAQ:ALGM) with a Buy rating and announces Price Target of $37.
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/12/2024 | $30.00 | Buy | Loop Capital |
| 11/7/2024 | $21.00 | Equal-Weight | Morgan Stanley |
| 9/3/2024 | $33.00 | Buy | UBS |
| 5/13/2024 | $37.00 | Buy | Jefferies |
| 5/10/2024 | $35.00 → $32.00 | Buy | TD Cowen |
| 4/16/2024 | $36.00 | Outperform | Evercore ISI |
| 2/2/2024 | $32.00 → $35.00 | Outperform | TD Cowen |
| 2/2/2024 | $35.00 | Peer Perform → Outperform | Wolfe Research |
Proceeds from the offering, together with cash on hand or additional borrowings under Allegro's term loan facility or revolving credit facility, will be used to repurchase shares from Allegro's majority shareholder, Sanken Electric Co., Ltd. ("Sanken") at a price per share equal to the price per share at which the underwriters will purchase shares of our common stock in the equity offering from Allegro.
Shares of General Dynamics Corporation (NYSE:GD) fell sharply during Wednesday's session after the company reported worse-than-expected second-quarter EPS results. Revenue for the quarter increased 18% year-over-year to $11.976 billion, beating the consensus of $11.438 billion. EPS of $3.26 (up 20.7% YoY) missed the consensus of $3.29, according to data from Benzinga Pro. General Dynamics shares declined 5.2% to $279.26 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers NuZee, Inc. (NASDAQ:NUZE) jumped 192% to $3.01. Dermata Therapeutics, Inc. (NASDAQ:DRMA) rose 142.4% to $3.0799 after falling over 22% on Tuesday. Selina Hospitality PLC
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MANCHESTER, N.H., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy efficient systems, today announced that its A89224 automotive System-on-a-Chip (SoC) has won the Electronica 2024: Best-in-Show Award, presented by Embedded Computing Design. The award ceremony took place on November 12, 2024, at Electronica in Munich, Germany. The A89224 is a high-performance automotive SoC featuring an integrated 90V MOSFET driver, optimized for advanced motor control in 24V and 48V automotive systems. As a control hub, it powers various automotive functions, ranging from power windows an
HYDERABAD, India, Nov. 15, 2024 /PRNewswire/ -- Cyient, a global Intelligent Engineering services company, today announced the expansion of its partnership with Allegro MicroSystems, Inc. ("Allegro MicroSystems") (NASDAQ:ALGM), a global leader in power and sensing solutions for motion control and energy efficiency, with the inauguration of a Center of Excellence (CoE) in Hyderabad, India. The CoE, located at Cyient's Manikonda Campus, will focus on developing next-generation magnetic sensors and power semiconductor products for the automotive industry. The state-of-the-art facility was inaugurated by Allegro MicroSystems President & CEO Vineet Nargolwala in the presence of Max Glover, Senio
MANCHESTER, N.H., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced that the company will present at Wells Fargo's 8th Annual TMT Summit on Wednesday, December 4, 2024 at the Terranea Resort in Rancho Palos Verdes, CA. Derek D'Antilio, EVP and Chief Financial Officer, is scheduled to participate in a fireside chat at 11:00 AM PST. A live and archived webcast of the fireside chat will be available on the Investor Relations page of the company's website at www.allegromicro.com. About Allegro MicroSystemsAllegro MicroSystems is a
Loop Capital initiated coverage of Allegro Microsystems with a rating of Buy and set a new price target of $30.00
Morgan Stanley initiated coverage of Allegro Microsystems with a rating of Equal-Weight and set a new price target of $21.00
UBS initiated coverage of Allegro Microsystems with a rating of Buy and set a new price target of $33.00
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4 - ALLEGRO MICROSYSTEMS, INC. (0000866291) (Issuer)
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MANCHESTER, N.H., April 03, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Jennie Raubacher to Allegro's Board of Directors ("Board") as an independent director. Ms. Raubacher's appointment is effective on April 3, 2024. Jennie Raubacher joins Allegro's Board with over 25 years of experience in investment banking focused on the semiconductor, technology and telecom sectors where she has advised global C-suite executives and boards of directors on strategic and financing transactions. Ms. Raubacher served as Managi
MANCHESTER, NH, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro") (NASDAQ:ALGM) a global leader in power and sensing semiconductor solutions for motion control and energy-efficient systems, today announced the appointment of Mary G. Puma to Allegro's Board of Directors ("Board"), filling the vacancy created by the retirement of Reza Kazerounian, who retired from the Board on October 15, 2023. Ms. Puma's appointment was effective on October 18, 2023. "Dr. Reza Kazerounian's vast semiconductor expertise and experience leading other companies in the semiconductor field have been crucial in Allegro's continued growth and IPO success and transformation towards a more m
MANCHESTER, N.H., Oct. 10, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its second quarter fiscal 2025 prior to the market open on Thursday, October 31, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: Second Quarter Fiscal Year 2025 Earnings Conference CallDate: Thursday, October 31, 2024Time:
MANCHESTER, N.H., July 11, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. (NASDAQ:ALGM) today announced it plans to release financial results for its first quarter fiscal 2025 prior to the market open on Thursday, August 1, 2024. Following the press release, Vineet Nargolwala, President and Chief Executive Officer, and Derek D'Antilio, Senior Vice President and Chief Financial Officer, will host a conference call at 8:30 a.m. Eastern Time to discuss the Company's results and business outlook. Analysts and investors are invited to join the conference call using the following information: First Quarter Fiscal Year 2025 Earnings Conference CallDate: Thursday, August 1, 2024Time: 8:30 a
– Full Year 2024 Sales Increase 8% to a Record $1.05 Billion ––38% Growth in E-Mobility Drives 17% Year-over-Year Increase in Full Year 2024 Automotive Sales – MANCHESTER, N.H., May 09, 2024 (GLOBE NEWSWIRE) -- Allegro MicroSystems, Inc. ("Allegro" or the "Company") (NASDAQ:ALGM), a global leader in power and sensing semiconductor solutions for motion control and energy efficient systems, today announced financial results for its fourth quarter and full year ended March 29, 2024. "Continued strong momentum in e-Mobility drove record fiscal year 2024 sales to more than $1 billion and record non-GAAP earnings per share of $1.35. We also achieved a record level of de
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4 - ALLEGRO MICROSYSTEMS, INC. (0000866291) (Issuer)
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