Wells Fargo Stick to Their Buy Rating for Allegro MicroSystems
Investing.com
Published Sep 21, 2021 08:31AM ET
Wells Fargo (NYSE:WFC) analyst Gary Mobley maintained a Buy rating on Allegro MicroSystems on Tuesday, setting a price target of $38, which is approximately 13.91% above the present share price of $33.36.
Mobley expects Allegro MicroSystems to post earnings per share (EPS) of $0.15 for the third quarter of 2021.
The current consensus among 4 TipRanks analysts is for a Strong Buy rating of shares in Allegro MicroSystems, with an average price target of $37.67.
The analysts price targets range from a high of $40 to a low of $35.
In its latest earnings report, released on 06/30/2021, the company reported a quarterly revenue of $188.14 million and a net profit of $32.54 million. The company's market cap is $6.33 billion.
According to TipRanks.com, Wells Fargo analyst Gary Mobley is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 24.7% and a 72.67% success rate.
Allegro Microsystems Inc is a global designer, developer, fabless manufacturer and marketer of sensor ICs and application-specific analog power ICs enabling the important emerging technologies in the automotive and industrial markets. It is a supplier of power ICs. Its sensor ICs enable customers to precisely measure motion, speed, position and current, while its power ICs include high-temperature and high-voltage capable motor driver, power management and LED driver ICs. Its products are divided into three categories such as SENSE that include Current Sensors, Switches and Latches, Linear and Angular Position, Magnetic Speed Sensors, and Photonics; REGULATE that include Regulators, ClearPower Modules, and LED Drivers; and DRIVE that includes BLDC Drivers, Brush DC and Stepper Drivers.
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