Allegro MicroSystems (NASDAQ:ALGM) CEO Sells $1,421,103.47 in Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction on Monday, May 11th. The stock was sold at an average price of $47.23, for a total value of $1,421,103.47. Following the transaction, the chief executive officer directly owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. This represents a 10.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $43.10 on Friday. The stock has a fifty day moving average price of $37.64 and a 200 day moving average price of $33.43. The stock has a market cap of $7.99 billion, a PE ratio of -478.84 and a beta of 2.02. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $51.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The firm had revenue of $243.19 million during the quarter, compared to analysts’ expectations of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.Allegro MicroSystems’s revenue was up 26.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALGM shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. TD Cowen raised their price target on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Mizuho raised their price target on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Finally, Bank of America raised their price target on Allegro MicroSystems from $36.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $51.80.

Institutional Investors Weigh In On Allegro MicroSystems

A number of hedge funds and other institutional investors have recently made changes to their positions in ALGM. Royal Bank of Canada grew its position in shares of Allegro MicroSystems by 70.0% in the first quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock valued at $2,964,000 after purchasing an additional 48,554 shares during the period. AQR Capital Management LLC purchased a new stake in shares of Allegro MicroSystems in the first quarter valued at $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Allegro MicroSystems by 31.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock valued at $8,911,000 after purchasing an additional 85,607 shares during the period. Prudential Financial Inc. grew its position in shares of Allegro MicroSystems by 24.0% in the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock valued at $536,000 after purchasing an additional 3,040 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Allegro MicroSystems by 5.4% in the second quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock valued at $19,710,000 after purchasing an additional 29,531 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

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.