Allegro MicroSystems (NASDAQ:ALGM) Director Susan Lynch Sells 16,711 Shares

Allegro MicroSystems, Inc. (NASDAQ:ALGM) Director Susan Lynch sold 16,711 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total value of $759,682.06. Following the sale, the director directly owned 12,805 shares in the company, valued at $582,115.30. The trade was a 56.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allegro MicroSystems Trading Down 4.2%

Shares of NASDAQ ALGM opened at $43.10 on Friday. The business’s 50 day moving average is $37.64 and its two-hundred day moving average is $33.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $51.40. The stock has a market capitalization of $7.99 billion, a P/E ratio of -478.84 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, research analysts expect that Allegro MicroSystems, Inc. will post 0.73 EPS for the current year.

Hedge Funds Weigh In On Allegro MicroSystems

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGM. Royal Bank of Canada grew its position in shares of Allegro MicroSystems by 70.0% during the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after buying an additional 48,554 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Allegro MicroSystems during the 1st quarter worth $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of 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 worth $8,911,000 after buying an additional 85,607 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Allegro MicroSystems by 24.0% during the 2nd quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock worth $536,000 after buying an additional 3,040 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of Allegro MicroSystems by 5.4% during the 2nd quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock worth $19,710,000 after buying an additional 29,531 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on ALGM shares. TD Cowen upped their target price on Allegro MicroSystems from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Mizuho lifted their price objective on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Bank of America lifted their price objective on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, January 21st. Wells Fargo & Company lifted their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $51.80.

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.