Legal & General Group Plc Acquires Shares of 164,734 Allegro MicroSystems, Inc. $ALGM

Legal & General Group Plc bought a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 164,734 shares of the company’s stock, valued at approximately $11,469,000. Legal & General Group Plc owned 0.09% of Allegro MicroSystems as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Royal Bank of Canada grew its holdings in shares of Allegro MicroSystems by 70.0% in the first quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after purchasing an additional 48,554 shares during the last quarter. AQR Capital Management LLC bought a new stake in Allegro MicroSystems during the 1st quarter valued at about $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in 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 in the last quarter. Prudential Financial Inc. boosted its position in Allegro MicroSystems by 24.0% in 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 period. Finally, First Trust Advisors LP boosted its position in Allegro MicroSystems by 5.4% in 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 period. 56.45% of the stock is currently owned by institutional investors.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of Allegro MicroSystems stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $44.39, for a total value of $101,431.15. Following the transaction, the senior vice president owned 31,052 shares in the company, valued at $1,378,398.28. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the transaction, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by company insiders.

Allegro MicroSystems Trading Up 1.3%

NASDAQ ALGM opened at $36.25 on Tuesday. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $71.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 604.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.94. The company’s 50-day simple moving average is $47.21 and its two-hundred day simple moving average is $43.34.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $259.24 million during the quarter, compared to analysts’ expectations of $251.44 million. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company’s revenue was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Equities analysts forecast that Allegro MicroSystems, Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

ALGM has been the topic of a number of research reports. Needham & Company LLC raised their target price on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. UBS Group boosted their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Morgan Stanley increased their price objective on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. TD Cowen decreased their target price on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given 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 currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.45.

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.