Intech Investment Management LLC Purchases New Position in Allegro MicroSystems, Inc. $ALGM

Intech Investment Management LLC purchased a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 36,173 shares of the company’s stock, valued at approximately $954,000.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Research Global Investors grew its position in Allegro MicroSystems by 5.8% in the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock worth $491,282,000 after purchasing an additional 920,365 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 lifted its stake in shares of Allegro MicroSystems by 2.1% during the 2nd quarter. State Street Corp now owns 5,193,001 shares of the company’s stock valued at $177,549,000 after buying an additional 108,402 shares in the last quarter. Alliancebernstein L.P. lifted its stake 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 buying an additional 1,806,183 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in 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 in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of NASDAQ:ALGM opened at $46.39 on Monday. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of -515.39 and a beta of 1.98. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $54.40. The firm’s 50-day moving average is $42.32 and its 200 day moving average is $35.56. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million for 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 firm’s revenue was up 26.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Research analysts predict that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the sale, the chief accounting officer directly owned 13,106 shares in the company, valued at $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the firm’s 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 approximately $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALGM has been the topic of several research analyst reports. Mizuho boosted their price target on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. 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 reiterated a “buy” rating and issued a $62.00 price target on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Morgan Stanley upgraded shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price target on the stock in a research note on Friday, February 13th. Finally, Evercore reiterated an “outperform” rating and issued a $53.00 price target 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 given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.80.

Allegro MicroSystems Company 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.