45,132 Shares in Allegro MicroSystems, Inc. $ALGM Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 45,132 shares of the company’s stock, valued at approximately $1,423,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGM. Kestra Advisory Services LLC purchased a new stake in shares of Allegro MicroSystems in the 4th quarter valued at approximately $34,000. CIBC Private Wealth Group LLC grew its stake in shares of Allegro MicroSystems by 14,844.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after purchasing an additional 1,336 shares in the last quarter. Caitong International Asset Management Co. Ltd grew its stake in shares of Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Allegro MicroSystems by 815.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after buying an additional 1,908 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec acquired a new stake in Allegro MicroSystems in the fourth quarter valued at $57,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ALGM shares. TD Cowen lifted their price target on Allegro MicroSystems from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Jefferies Financial Group restated a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Barclays increased their price target on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.60.

Insiders Place Their Bets

In related news, CEO Michael Doogue sold 30,089 shares of the stock in a transaction 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 in the company, valued at $11,939,602.31. This represents a 10.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan D. Lynch sold 16,711 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total transaction of $759,682.06. Following the transaction, 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 SEC filing for this sale provides additional information. In the last three months, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.50% of the stock is owned by insiders.

Allegro MicroSystems Stock Performance

Shares of Allegro MicroSystems stock traded down $2.51 on Friday, hitting $54.87. The stock had a trading volume of 2,286,334 shares, compared to its average volume of 3,916,616. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of -609.60 and a beta of 1.90. The company’s 50 day moving average price is $51.57 and its 200 day moving average price is $40.59.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $243.19 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

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.