Allegro MicroSystems (NASDAQ:ALGM) SVP Sells $109,801.52 in Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Ian Kent sold 2,642 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $41.56, for a total transaction of $109,801.52. Following the completion of the sale, the senior vice president owned 25,392 shares in the company, valued at approximately $1,055,291.52. This trade represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Allegro MicroSystems Trading Up 0.7%

Allegro MicroSystems stock traded up $0.30 during mid-day trading on Tuesday, hitting $41.65. 1,999,768 shares of the company’s stock were exchanged, compared to its average volume of 2,450,440. The company’s 50 day simple moving average is $37.81 and its 200-day simple moving average is $33.53. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $7.72 billion, a P/E ratio of -462.73 and a beta of 2.02. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $51.40.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results 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 company had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALGM shares. Bank of America lifted their price target on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a research note on Wednesday, January 21st. Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Mizuho raised their price objective on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Evercore restated an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus price target of $51.80.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALGM. Royal Bank of Canada boosted its stake in shares of Allegro MicroSystems by 70.0% during the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after buying an additional 48,554 shares during the last quarter. AQR Capital Management LLC acquired a new stake in shares of Allegro MicroSystems in the first quarter valued at about $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased 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 acquiring an additional 85,607 shares during the last quarter. Prudential Financial Inc. raised its holdings in Allegro MicroSystems by 24.0% during the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock worth $536,000 after acquiring an additional 3,040 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Allegro MicroSystems by 5.4% during 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 last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

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.