Sei Investments Co. Increases Stake in Allegro MicroSystems, Inc. $ALGM

Sei Investments Co. increased its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 126.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 218,976 shares of the company’s stock after acquiring an additional 122,065 shares during the period. Sei Investments Co.’s holdings in Allegro MicroSystems were worth $6,904,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of ALGM. Invesco Ltd. increased its position in Allegro MicroSystems by 44.0% during the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after purchasing an additional 2,338,624 shares during the last quarter. State Street Corp boosted its holdings in shares of Allegro MicroSystems by 1.5% in the 4th quarter. State Street Corp now owns 5,359,488 shares of the company’s stock valued at $141,383,000 after purchasing an additional 78,203 shares during the last quarter. Adage Capital Partners GP L.L.C. grew its stake in shares of Allegro MicroSystems by 77.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after buying an additional 1,227,317 shares during the period. Alliancebernstein L.P. grew 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 during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Allegro MicroSystems by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,393,968 shares of the company’s stock worth $63,165,000 after buying an additional 24,839 shares during the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALGM has been the topic of several research reports. Mizuho cut their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Jefferies Financial Group restated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a research note on Monday, July 20th. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $52.80.

Allegro MicroSystems Stock Up 0.0%

Shares of NASDAQ ALGM opened at $41.52 on Tuesday. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77. The firm has a market cap of $7.74 billion, a price-to-earnings ratio of 692.12, a PEG ratio of 1.10 and a beta of 1.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The stock’s 50-day simple moving average is $51.73 and its 200-day simple moving average is $42.74.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The firm had revenue of $259.24 million during the quarter, compared to the consensus estimate of $251.44 million. During the same quarter in the prior year, the business posted $0.09 earnings per share. Allegro MicroSystems’s revenue for the quarter was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the completion of the transaction, the senior vice president directly owned 69,687 shares in the company, valued at approximately $3,673,898.64. This represents a 6.69% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Sharon Briansky sold 8,948 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.54, for a total transaction of $425,387.92. Following the sale, the senior vice president directly owned 75,232 shares of the company’s stock, valued at $3,576,529.28. The trade was a 10.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,607 shares of company stock worth $3,213,714 over the last 90 days. 0.50% of the stock is currently owned by corporate insiders.

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.