VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Allegro MicroSystems, Inc. $ALGM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,469 shares of the company’s stock, valued at approximately $1,634,000.

Several other institutional investors and hedge funds also recently modified their holdings of ALGM. California State Teachers Retirement System grew its holdings in shares of Allegro MicroSystems by 6,620.0% during the second quarter. California State Teachers Retirement System now owns 10,068,305 shares of the company’s stock worth $700,955,000 after buying an additional 9,918,479 shares in the last quarter. HB Wealth Management LLC bought a new stake in Allegro MicroSystems in the 2nd quarter valued at approximately $204,000. Odyssean LLC acquired a new position in Allegro MicroSystems during the 2nd quarter worth approximately $281,000. Continuum Advisory LLC acquired a new position in Allegro MicroSystems during the 2nd quarter worth approximately $35,000. Finally, Nykredit A S bought a new position in shares of Allegro MicroSystems during the 2nd quarter worth approximately $264,000. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems Stock Up 2.9%

ALGM stock opened at $36.31 on Friday. The company has a market cap of $6.77 billion, a price-to-earnings ratio of 605.27, a P/E/G ratio of 1.11 and a beta of 1.91. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The business has a 50 day moving average price of $42.89 and a two-hundred day moving average price of $43.03. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share (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 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 was up 27.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ALGM shares. TD Cowen lowered their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Mizuho decreased their target price on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Benchmark initiated coverage on shares of Allegro MicroSystems in a research note on Wednesday, August 12th. They issued a “buy” rating and a $60.00 price target on the stock. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the sale, the senior vice president directly owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.50% of the company’s stock.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc develops and manufactures semiconductor solutions that enable motion control, energy efficiency and intelligent system monitoring. The company primarily serves the automotive and industrial markets, providing integrated circuits and sensor technologies used in vehicles, factory automation, appliances, power systems and other electronic equipment.

Its product portfolio includes magnetic sensor ICs for measuring position, speed, current and motion; power management and regulation devices; motor driver ICs; LED driver solutions; and other application-specific integrated circuits.