Allegro Microsystems (ALGM, Financial) has received a noteworthy update from Mizuho analyst Vijay Rakesh, who has raised the stock's price target from $31.00 to $37.00. This update comes as the stock's rating is maintained at "Outperform," suggesting continued confidence in ALGM's future performance.
The price target adjustment represents a significant 19.35% increase, indicating the analyst's positive outlook on Allegro Microsystems’ potential for growth. The revised price target and sustained rating provide a clearer picture of the expected upward trajectory of ALGM shares.
Investors tracking Allegro Microsystems (ALGM, Financial) should note these changes as they reflect a reinforced belief in the company's market position and financial health, as analyzed by Mizuho's Vijay Rakesh.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 13 analysts, the average target price for Allegro Microsystems Inc (ALGM, Financial) is $29.60 with a high estimate of $42.00 and a low estimate of $23.00. The average target implies an downside of 17.32% from the current price of $35.80. More detailed estimate data can be found on the Allegro Microsystems Inc (ALGM) Forecast page.
Based on the consensus recommendation from 13 brokerage firms, Allegro Microsystems Inc's (ALGM, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Allegro Microsystems Inc (ALGM, Financial) in one year is $27.21, suggesting a downside of 23.99% from the current price of $35.8. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Allegro Microsystems Inc (ALGM) Summary page.
