Allegro MicroSystems (NASDAQ:ALGM) CEO Michael Doogue Sells 30,089 Shares

Allegro MicroSystems, Inc. (NASDAQ:ALGM) CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the sale, the chief executive officer directly owned 252,797 shares in the company, valued at approximately $11,939,602.31. The trade was a 10.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Allegro MicroSystems Price Performance

NASDAQ:ALGM traded up $0.10 during trading hours on Wednesday, reaching $45.97. The stock had a trading volume of 2,103,443 shares, compared to its average volume of 2,449,078. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $51.40. The company has a 50 day moving average price of $37.06 and a two-hundred day moving average price of $33.16. The stock has a market capitalization of $8.52 billion, a PE ratio of -510.72 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The business had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company’s revenue was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegro MicroSystems

Large investors have recently modified their holdings of the stock. Hantz Financial Services Inc. increased its position in shares of Allegro MicroSystems by 86.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after purchasing an additional 419 shares during the last quarter. Quent Capital LLC bought a new position in shares of Allegro MicroSystems during the 3rd quarter valued at approximately $28,000. Parallel Advisors LLC increased its position in shares of Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after purchasing an additional 302 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at approximately $34,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after acquiring an additional 1,336 shares during the period. Institutional investors own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Barclays lifted their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Mizuho lifted their price objective on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. UBS Group boosted their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Finally, Evercore reissued an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $51.80.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.