Allegro MicroSystems (NASDAQ:ALGM) SVP Sells $263,600.00 in Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Richard Madormo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was 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 trade represents a 6.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Allegro MicroSystems Stock Performance

ALGM stock opened at $46.39 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21. The company has a 50 day moving average price of $42.32 and a 200 day moving average price of $35.48. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $54.40. The stock has a market capitalization of $8.64 billion, a PE ratio of -515.39 and a beta of 1.98.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $243.19 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter in the previous year, the company posted $0.06 EPS. Allegro MicroSystems’s 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. Analysts forecast that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Institutional Trading of Allegro MicroSystems

Several institutional investors and hedge funds have recently made changes to their positions in ALGM. Royal Bank of Canada raised its position 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 valued at $2,964,000 after acquiring an additional 48,554 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of Allegro MicroSystems in the 1st quarter valued at $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 1st 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 buying an additional 85,607 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Allegro MicroSystems by 24.0% in the 2nd quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock valued at $536,000 after buying an additional 3,040 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Allegro MicroSystems by 5.4% in the 2nd quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock valued at $19,710,000 after buying an additional 29,531 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALGM. Needham & Company LLC boosted their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley upgraded shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price for the company in a research report on Friday, February 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Jefferies Financial Group reiterated a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Finally, Evercore reiterated an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. 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. According to data from MarketBeat, Allegro MicroSystems presently has an average rating of “Moderate Buy” and a consensus price target of $51.80.

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.