Hel Ved Capital Management Ltd Invests $1.66 Million in Allegro MicroSystems, Inc. $ALGM

Hel Ved Capital Management Ltd bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the fourth quarter, HoldingsChannel reports. The institutional investor bought 62,850 shares of the company’s stock, valued at approximately $1,658,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALGM. Bank of America Corp DE boosted its stake in shares of Allegro MicroSystems by 136.6% during the third quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock valued at $27,818,000 after purchasing an additional 3,556,410 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of Allegro MicroSystems by 189.4% during the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after purchasing an additional 1,806,183 shares in the last quarter. Norges Bank bought a new position in shares of Allegro MicroSystems during the fourth quarter valued at approximately $38,457,000. Capital Research Global Investors boosted its stake in shares of Allegro MicroSystems by 5.8% during the third quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock valued at $491,282,000 after purchasing an additional 920,365 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Allegro MicroSystems by 130.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 796,329 shares of the company’s stock valued at $21,007,000 after purchasing an additional 450,983 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Allegro MicroSystems news, Director Susan D. Lynch sold 16,711 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $45.46, for a total value of $759,682.06. Following the completion of the sale, the director directly owned 12,805 shares in the company, valued at $582,115.30. This trade represents a 56.62% 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, CEO Michael Doogue sold 30,089 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the completion of the sale, the chief executive officer owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 68,607 shares of company stock valued at $3,213,714 over the last quarter. Insiders own 0.40% of the company’s stock.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $50.40 on Friday. The company has a market cap of $9.39 billion, a price-to-earnings ratio of -559.94 and a beta of 1.98. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month 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 company has a 50 day moving average of $43.99 and a two-hundred day moving average of $36.32.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. The company 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%. Allegro MicroSystems’s revenue was up 26.1% compared to the same quarter last year. During the same period last year, the firm earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, analysts predict that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALGM shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Needham & Company LLC increased their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. UBS Group increased their price objective on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Evercore reiterated an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a research note on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Allegro MicroSystems presently has an average rating of “Moderate Buy” and a consensus target price 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.