Allegro MicroSystems, Inc. $ALGM Shares Sold by Legal & General Group Plc

Legal & General Group Plc cut its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 5.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 185,648 shares of the company’s stock after selling 11,329 shares during the period. Legal & General Group Plc owned about 0.10% of Allegro MicroSystems worth $4,897,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Allegro MicroSystems by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock worth $417,369,000 after acquiring an additional 87,526 shares during the period. Candriam S.C.A. bought a new stake in Allegro MicroSystems in the 3rd quarter valued at about $2,604,000. Lecap Asset Management Ltd. bought a new stake in Allegro MicroSystems in the 4th quarter valued at about $783,000. Royce & Associates LP bought a new stake in Allegro MicroSystems in the 3rd quarter valued at about $2,985,000. Finally, Capital Research Global Investors lifted its position in Allegro MicroSystems by 5.8% in the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock valued at $491,282,000 after purchasing an additional 920,365 shares during the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ALGM shares. Jefferies Financial Group reiterated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Mizuho boosted their price target on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Needham & Company LLC boosted 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. Morgan Stanley raised Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research note on Friday, February 13th. Finally, Evercore reiterated an “outperform” rating and set a $53.00 price target on shares of Allegro MicroSystems in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.80.

Allegro MicroSystems Stock Performance

Shares of NASDAQ:ALGM opened at $46.39 on Monday. The stock has a market capitalization of $8.64 billion, a price-to-earnings ratio of -515.39 and a beta of 1.98. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $54.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. The company has a 50 day moving average price of $42.32 and a 200 day moving average price of $35.56.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $243.19 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Insider Activity

In related news, SVP Richard Madormo sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the completion of the sale, the senior vice president directly owned 69,687 shares in the company, valued at approximately $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael Doogue sold 30,089 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the sale, the chief executive officer owned 252,797 shares of the company’s stock, valued at $11,939,602.31. The trade was a 10.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 68,607 shares of company stock valued at $3,213,714 in the last ninety days. 0.40% of the stock is owned by company insiders.

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.