Allegro MicroSystems (NASDAQ:ALGM) CAO Roald Graham Webster Sells 5,217 Shares of Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) CAO Roald Graham Webster sold 5,217 shares of Allegro MicroSystems stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the transaction, the chief accounting officer owned 13,106 shares in the company, valued at $588,197.28. The trade was a 28.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Allegro MicroSystems Trading Up 2.8%

NASDAQ:ALGM traded up $1.25 on Friday, hitting $45.95. 1,857,713 shares of the stock were exchanged, compared to its average volume of 2,437,788. The stock has a market cap of $8.51 billion, a PE ratio of -510.50 and a beta of 2.02. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. The stock has a fifty day moving average of $38.46 and a 200-day moving average of $33.81. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $51.40.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $235.94 million. During the same period 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, equities analysts expect that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal year.

Institutional Trading of Allegro MicroSystems

Large investors have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its stake in shares of Allegro MicroSystems by 86.9% during the third 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 period. Parallel Advisors LLC boosted its stake in shares of Allegro MicroSystems by 42.8% in the first 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 period. Kestra Advisory Services LLC acquired a new stake in Allegro MicroSystems during the 4th quarter valued at $34,000. CIBC Private Wealth Group LLC increased its stake 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 worth $35,000 after buying an additional 1,336 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after buying an additional 669 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ALGM. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Barclays raised their target price on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Needham & Company LLC upped their price target on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Evercore reiterated an “outperform” rating and issued a $53.00 price target on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, Morgan Stanley raised Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and an average target price of $51.80.

About Allegro MicroSystems

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.