Braun Stacey Associates Inc. Purchases Shares of 366,493 Allegro MicroSystems, Inc. $ALGM

Braun Stacey Associates Inc. purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 366,493 shares of the company’s stock, valued at approximately $25,515,000. Braun Stacey Associates Inc. owned about 0.20% of Allegro MicroSystems at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALGM. Royal Bank of Canada lifted its stake in Allegro MicroSystems by 70.0% in the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock valued at $2,964,000 after buying an additional 48,554 shares in the last quarter. AQR Capital Management LLC purchased a new position in Allegro MicroSystems during the first quarter worth $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 worth $8,911,000 after acquiring an additional 85,607 shares during the last quarter. Prudential Financial Inc. raised its holdings 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 worth $536,000 after acquiring an additional 3,040 shares during the last quarter. Finally, First Trust Advisors LP lifted 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 acquiring an additional 29,531 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on ALGM shares. Benchmark began coverage on Allegro MicroSystems in a research note on Wednesday, August 12th. They set a “buy” rating and a $60.00 price objective on the stock. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Evercore restated an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Mizuho decreased their price target on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, TD Cowen lowered their price target on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

Insider Transactions at Allegro MicroSystems

In other news, SVP Richard Madormo sold 5,000 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the completion of the transaction, the senior vice president owned 69,687 shares of the company’s stock, valued at $3,673,898.64. This represents a 6.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Erin Hagen sold 2,285 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the transaction, the senior vice president owned 31,052 shares in the company, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.50% of the company’s stock.

Allegro MicroSystems Price Performance

ALGM stock opened at $35.77 on Friday. The stock has a market capitalization of $6.67 billion, a price-to-earnings ratio of 596.27, a price-to-earnings-growth 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. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77. The stock’s fifty day simple moving average is $47.71 and its 200-day simple moving average is $43.37.

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

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.