169,993 Shares in Allegro MicroSystems, Inc. $ALGM Acquired by Roubaix Capital LLC

Roubaix Capital LLC bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 1st quarter, HoldingsChannel reports. The institutional investor bought 169,993 shares of the company’s stock, valued at approximately $5,360,000. Allegro MicroSystems comprises approximately 2.5% of Roubaix Capital LLC’s portfolio, making the stock its 18th biggest position.

A number of other institutional investors also recently added to or reduced their stakes in ALGM. Invesco Ltd. grew its holdings in Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after acquiring an additional 2,338,624 shares in the last quarter. State Street Corp raised its holdings in shares of Allegro MicroSystems by 1.5% in the 4th quarter. State Street Corp now owns 5,359,488 shares of the company’s stock valued at $141,383,000 after purchasing an additional 78,203 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in shares of Allegro MicroSystems by 77.8% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after purchasing an additional 1,227,317 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Allegro MicroSystems by 189.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after purchasing an additional 1,806,183 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Allegro MicroSystems by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 2,393,968 shares of the company’s stock worth $63,165,000 after purchasing an additional 24,839 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $46.48 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.66 billion, a PE ratio of -516.39 and a beta of 1.90. The company’s 50 day simple moving average is $51.58 and its 200-day simple moving average is $41.38. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The business had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the previous year, the company posted $0.06 EPS. The company’s quarterly revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, equities analysts predict that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Analyst Upgrades and Downgrades

ALGM has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Needham & Company LLC lifted their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Mizuho lifted their price target on Allegro MicroSystems from $54.00 to $67.00 and gave the stock an “outperform” rating in a report on Monday, June 29th. UBS Group upped their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Allegro MicroSystems currently has an average rating of “Moderate Buy” and an average price target of $55.20.

Insider Activity at Allegro MicroSystems

In other Allegro MicroSystems news, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction on Monday, May 11th. The shares were 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 in the company, valued at approximately $11,939,602.31. The trade was a 10.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Roald Graham Webster sold 5,217 shares of Allegro MicroSystems stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the transaction, the chief accounting officer owned 13,106 shares in the company, valued at approximately $588,197.28. This represents a 28.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,607 shares of company stock worth $3,213,714 in the last three months. Company insiders own 0.50% 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.