Allegro MicroSystems (NASDAQ:ALGM) SVP Erin Hagen Sells 2,285 Shares of Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Erin Hagen sold 2,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the transaction, the senior vice president directly owned 31,052 shares in the company, valued at approximately $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Allegro MicroSystems Stock Down 0.1%

Shares of NASDAQ ALGM opened at $42.47 on Thursday. The stock has a 50 day moving average price of $50.71 and a 200 day moving average price of $43.21. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 707.95, a PEG ratio of 1.34 and a beta of 1.94. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $259.24 million during the quarter, compared to analysts’ expectations of $251.44 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Sell-side analysts expect that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

Hedge Funds Weigh In On Allegro MicroSystems

A number of large investors have recently added to or reduced their stakes in ALGM. Rakuten Securities Inc. purchased a new stake in shares of Allegro MicroSystems during the second quarter worth about $31,000. Parallel Advisors LLC lifted its stake in shares of Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after buying an additional 302 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Allegro MicroSystems during the fourth quarter worth about $34,000. CIBC Private Wealth Group LLC grew its stake in Allegro MicroSystems by 14,844.4% during the 4th 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Allegro MicroSystems by 85.8% in the 4th 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 currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGM has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective 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. Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target for the company. in a research report on Monday, July 20th. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Finally, Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $52.80.

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.