E. Ohman J or Asset Management AB Makes New Investment in Allegro MicroSystems, Inc. $ALGM

E. Ohman J or Asset Management AB acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 72,848 shares of the company’s stock, valued at approximately $2,648,000.

Several other large investors have also recently made changes to their positions in the company. Transamerica Financial Advisors LLC acquired a new stake in shares of Allegro MicroSystems in the second quarter valued at about $27,000. Rakuten Securities Inc. acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter worth $31,000. Parallel Advisors LLC raised its holdings 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 worth $32,000 after acquiring an additional 302 shares during the period. Continuum Advisory LLC purchased a new position in shares of Allegro MicroSystems during the 2nd quarter worth $35,000. Finally, First Bancorp Inc ME acquired a new position in shares of Allegro MicroSystems during the 2nd quarter valued at about $49,000. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Erin Hagen sold 2,285 shares of the business’s 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 completion of the sale, the senior vice president directly owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALGM has been the topic of several recent analyst reports. Mizuho decreased their target price on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Royal Bank Of Canada initiated coverage on shares of Allegro MicroSystems in a report on Friday, October 2nd. They issued an “outperform” rating and a $50.00 target price for the company. Wells Fargo & Company decreased their price target on Allegro MicroSystems from $56.00 to $45.00 and set an “overweight” rating on the stock in a research note on Tuesday. TD Cowen lowered their price target on Allegro MicroSystems from $48.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, October 19th. Finally, Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $51.58.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $31.48 on Friday. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The firm’s fifty day simple moving average is $35.70 and its 200-day simple moving average is $43.40. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 524.75, a PEG ratio of 1.00 and a beta of 1.99. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%. The company had revenue of $259.24 million for the quarter, compared to analysts’ expectations of $251.44 million. During the same period last year, the firm earned $0.09 earnings per share. Allegro MicroSystems’s quarterly revenue was up 27.5% on a year-over-year basis. 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.

About Allegro MicroSystems

Allegro MicroSystems, Inc is a semiconductor company that develops and manufactures magnetic sensing and power-management solutions. Its products are designed to help monitor motion, position, speed, current and temperature, as well as control power in electronic systems.

The company’s portfolio includes Hall-effect and other magnetic sensors, current sensors, motor drivers, regulators, LED drivers and related integrated circuits. These products are used in automotive applications such as advanced driver-assistance systems, vehicle electrification, powertrain systems, comfort features and safety systems, as well as in industrial and consumer equipment.

Founded in 1990 and headquartered in Manchester, New Hampshire, Allegro serves customers globally through its international operations and distribution network.