Commerce Bank Makes New Investment in Allegro MicroSystems, Inc. $ALGM

Commerce Bank bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 15,646 shares of the company’s stock, valued at approximately $1,089,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP acquired a new position in shares of Allegro MicroSystems during the second quarter valued at $89,000. Evolve Private Wealth LLC acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter worth about $587,000. Rakuten Securities Inc. acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter worth about $31,000. Callan Family Office LLC bought a new stake in Allegro MicroSystems in the 2nd quarter valued at about $288,000. Finally, Allworth Financial LP bought a new stake in Allegro MicroSystems in the 2nd quarter valued at about $106,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insider Buying and Selling

In related news, 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 transaction, the senior vice president owned 69,687 shares in the company, valued at $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Erin Hagen sold 2,285 shares of the business’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 value of $101,431.15. Following the sale, the senior vice president directly owned 31,052 shares in the company, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by company insiders.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $36.89 on Thursday. The firm has a market capitalization of $6.88 billion, a PE ratio of 614.94, a P/E/G ratio of 1.18 and a beta of 1.94. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $48.61 and a 200 day moving average price of $43.45. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALGM shares. Needham & Company LLC boosted their target price on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. UBS Group raised their price target 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. Weiss Ratings raised Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Morgan Stanley boosted their price objective on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Finally, Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

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.