Allegro MicroSystems shares rise as investors lean into growth outlook and chip-sector momentum

Allegro MicroSystems (ALGM) is up 9.7% today. Here is some analysis on what might have caused this price movement.

Analysis: A clear company-specific headline was not easy to pin down today, so the move appears tied to continued enthusiasm around Allegro’s recent growth outlook and improving sentiment across semiconductor names. This could be because investors are still reacting to the company’s strong May results, upbeat near-term guidance, and exposure to fast-growing markets such as xEV, ADAS, and data center power.

Details:

In its most recent quarterly update, Allegro said fourth-quarter sales reached $243 million, above the high end of its guidance range, while non-GAAP EPS came in at $0.17.

Management highlighted that data center revenue hit a new quarterly record at 14% of sales and grew 41% sequentially, pointing to expanding demand in one of the market’s favorite end markets.

The company guided for fiscal first-quarter 2027 sales of $245 million to $255 million and non-GAAP EPS of $0.19 to $0.23, implying continued year-over-year growth.

Recent analyst-tracking pages also show at least one higher price target in June and notable short interest, which may have added fuel to an already strong upward move.

Sources:

Allegro MicroSystems, StockAnalysis, MarketBeat

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ALGM Insider Trading Activity

$ALGM insiders have traded $ALGM stock on the open market 6 times in the past 6 months. Of those trades, 0 have been purchases and 6 have been sales.

Here’s a breakdown of recent trading of $ALGM stock by insiders over the last 6 months:

MICHAEL DOOGUE (President and CEO) sold 30,089 shares for an estimated $1,421,250
SUSAN D LYNCH sold 16,711 shares for an estimated $759,625
SHARON BRIANSKY (SVP, GC and Secretary) sold 8,948 shares for an estimated $425,379
RICHARD MADORMO (SVP, Worldwide Sales) sold 5,000 shares for an estimated $263,600
ROALD GRAHAM WEBSTER (VP, Chief Accounting Officer) sold 5,217 shares for an estimated $234,165
IAN KENT (SVP, Global Operations) sold 2,642 shares for an estimated $109,801

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API insider transaction endpoint.

$ALGM Hedge Fund Activity

We have seen 186 institutional investors add shares of $ALGM stock to their portfolio, and 169 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

FMR LLC added 3,785,460 shares (+16.0%) to their portfolio in Q1 2026, for an estimated $119,355,553
INVESCO LTD. added 2,338,624 shares (+44.0%) to their portfolio in Q4 2025, for an estimated $61,692,901
MACQUARIE GROUP LTD removed 2,197,274 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $57,964,088
CITADEL ADVISORS LLC removed 2,161,076 shares (-84.4%) from their portfolio in Q1 2026, for an estimated $68,138,726
ANALOG CENTURY MANAGEMENT LP removed 1,890,072 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $59,593,970
MILLENNIUM MANAGEMENT LLC removed 1,313,612 shares (-97.9%) from their portfolio in Q1 2026, for an estimated $41,418,186
POINT72 ASSET MANAGEMENT, L.P. removed 1,119,265 shares (-100.0%) from their portfolio in Q1 2026, for an estimated $35,290,425

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API 13F endpoint.

$ALGM Analyst Ratings

Wall Street analysts have issued reports on $ALGM in the last several months. We have seen 7 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Mizuho issued a "Outperform" rating on 05/08/2026
Needham issued a "Buy" rating on 05/07/2026
Morgan Stanley issued a "Overweight" rating on 02/13/2026
Wells Fargo issued a "Overweight" rating on 01/30/2026
Barclays issued a "Overweight" rating on 01/30/2026
Jefferies issued a "Buy" rating on 01/30/2026
UBS issued a "Buy" rating on 01/30/2026

To track analyst ratings and price targets for $ALGM, check out Quiver Quantitative's $ALGM forecast page.

$ALGM Price Targets

Multiple analysts have issued price targets for $ALGM recently. We have seen 10 analysts offer price targets for $ALGM in the last 6 months, with a median target of $52.0.

Here are some recent targets:

Vijay Rakesh from Mizuho set a target price of $54.0 on 05/08/2026
Mark Lipacis from Evercore ISI Group set a target price of $53.0 on 05/08/2026
Tom O'Malley from Barclays set a target price of $48.0 on 05/08/2026
Joseph Quatrochi from Wells Fargo set a target price of $56.0 on 05/08/2026
Timothy Arcuri from UBS set a target price of $55.0 on 05/08/2026
N. Quinn Bolton from Needham set a target price of $55.0 on 05/07/2026
Joseph Moore from Morgan Stanley set a target price of $51.0 on 02/13/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.