Allegro MicroSystems (NASDAQ:ALGM) SVP Sells $425,387.92 in Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Sharon Briansky sold 8,948 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $47.54, for a total transaction of $425,387.92. Following the completion of the sale, the senior vice president owned 75,232 shares of the company’s stock, valued at approximately $3,576,529.28. The trade was a 10.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Allegro MicroSystems Stock Up 0.2%

Shares of ALGM stock traded up $0.10 on Wednesday, hitting $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 current ratio of 3.45 and a quick ratio of 2.21. The business has a 50 day moving average of $37.06 and a 200 day moving average of $33.16. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $51.40. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of -510.72 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last issued 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. The business had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, analysts expect that Allegro MicroSystems, Inc. will post 0.73 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALGM. Royal Bank of Canada lifted its position in shares of Allegro MicroSystems by 70.0% during the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock valued at $2,964,000 after buying an additional 48,554 shares during the last quarter. AQR Capital Management LLC purchased a new position in shares of Allegro MicroSystems during the 1st quarter valued at $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Allegro MicroSystems by 31.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock valued at $8,911,000 after buying an additional 85,607 shares during the last quarter. Prudential Financial Inc. lifted its position in shares of Allegro MicroSystems by 24.0% during the 2nd quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock valued at $536,000 after buying an additional 3,040 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Allegro MicroSystems by 5.4% during the 2nd quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock valued at $19,710,000 after buying an additional 29,531 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Evercore restated an “outperform” rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a research note on Friday, May 8th. Bank of America upped their price objective on Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Wells Fargo & Company upped their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Ten 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 company. According to MarketBeat, Allegro MicroSystems currently has a consensus 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.