Capital Research Global Investors Cuts Position in Allegro MicroSystems, Inc. $ALGM

Capital Research Global Investors lessened its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 22.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,111,292 shares of the company’s stock after selling 3,713,430 shares during the quarter. Capital Research Global Investors owned about 0.07% of Allegro MicroSystems worth $345,876,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Allegro MicroSystems by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock valued at $417,369,000 after buying an additional 87,526 shares in the last quarter. State Street Corp boosted its holdings in shares of Allegro MicroSystems by 2.1% in the 2nd quarter. State Street Corp now owns 5,193,001 shares of the company’s stock worth $177,549,000 after purchasing an additional 108,402 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Allegro MicroSystems by 189.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock worth $94,360,000 after purchasing an additional 1,806,183 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Allegro MicroSystems by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 2,393,968 shares of the company’s stock worth $63,165,000 after purchasing an additional 24,839 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Allegro MicroSystems by 3.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 2,177,560 shares of the company’s stock worth $74,451,000 after purchasing an additional 69,137 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Insider Activity at Allegro MicroSystems

In related news, SVP Sharon Briansky sold 8,948 shares of the business’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 transaction, the senior vice president owned 75,232 shares in the company, valued at $3,576,529.28. The trade was a 10.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael Doogue sold 30,089 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the transaction, the chief executive officer owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. The trade was a 10.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,607 shares of company stock worth $3,213,714 over the last quarter. 0.40% of the stock is owned by insiders.

Allegro MicroSystems Price Performance

ALGM opened at $46.39 on Monday. The business has a fifty day moving average of $42.32 and a 200 day moving average of $35.56. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $54.40. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.64 billion, a P/E ratio of -515.39 and a beta of 1.98.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $243.19 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter in the previous year, the business earned $0.06 EPS. Allegro MicroSystems’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, sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Mizuho lifted their target price on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Barclays lifted their target price on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a report on Friday, February 13th. Finally, Needham & Company LLC lifted their target price on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Allegro MicroSystems 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.