17,210 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Csenge Advisory Group

Csenge Advisory Group bought a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 17,210 shares of the company’s stock, valued at approximately $1,198,000.

A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. bought a new position in Allegro MicroSystems during the 2nd quarter worth approximately $966,975,000. Bank of America Corp DE increased its holdings in shares of Allegro MicroSystems by 136.6% in the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock valued at $27,818,000 after acquiring an additional 3,556,410 shares during the last quarter. Invesco Ltd. raised its position in shares of Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after acquiring an additional 2,338,624 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Allegro MicroSystems by 189.4% during the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after acquiring an additional 1,806,183 shares in the last quarter. Finally, Norges Bank bought a new position in Allegro MicroSystems during the fourth quarter worth $38,457,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insiders Place Their Bets

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the completion of the sale, the senior vice president directly owned 69,687 shares in the company, valued at $3,673,898.64. The trade was a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president owned 31,052 shares of the company’s stock, valued at $1,378,398.28. This represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company’s stock.

Allegro MicroSystems Stock Performance

ALGM opened at $38.35 on Thursday. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.15 billion, a PE ratio of 639.27, a P/E/G ratio of 1.24 and a beta of 1.94. The business has a fifty day simple moving average of $50.13 and a 200-day simple moving average of $43.49. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Evercore restated an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a research report on Friday, May 8th. Weiss Ratings raised Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Benchmark initiated coverage on shares of Allegro MicroSystems in a report on Wednesday, August 12th. They set a “buy” rating and a $60.00 price target for the company. Finally, Barclays lowered shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target for the company. in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

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.