Allegro MicroSystems (NASDAQ:ALGM) SVP Richard Madormo Sells 5,000 Shares

Allegro MicroSystems, Inc. (NASDAQ:ALGM) 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 transaction of $263,600.00. Following the completion of the sale, the senior vice president owned 69,687 shares of the company’s stock, valued at $3,673,898.64. This trade represents a 6.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Allegro MicroSystems Stock Up 1.0%

Shares of NASDAQ:ALGM traded up $0.51 during trading on Thursday, hitting $53.62. The company’s stock had a trading volume of 2,089,796 shares, compared to its average volume of 2,444,733. The business has a 50 day moving average price of $41.63 and a two-hundred day moving average price of $35.20. The company has a market capitalization of $9.99 billion, a PE ratio of -595.71 and a beta of 1.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $54.40.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter 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 0.77 EPS for the current fiscal year.

Institutional Investors Weigh In On Allegro MicroSystems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hantz Financial Services Inc. lifted its position in Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after acquiring an additional 419 shares during the last quarter. Parallel Advisors LLC lifted its position in Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Allegro MicroSystems in the fourth quarter valued at $34,000. CIBC Private Wealth Group LLC lifted its position in Allegro MicroSystems by 14,844.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after acquiring an additional 1,336 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its position in Allegro MicroSystems by 85.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after acquiring an additional 669 shares during the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ALGM. Barclays boosted their price target on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and issued a $62.00 price target on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Wells Fargo & Company boosted their price target on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Morgan Stanley upgraded shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a research note on Friday, February 13th. Finally, Evercore reiterated an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research note on Friday, May 8th. Ten research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price 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.