Allegro MicroSystems, Inc. $ALGM Shares Acquired by Sei Investments Co.

Sei Investments Co. lifted its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 126.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 218,976 shares of the company’s stock after purchasing an additional 122,065 shares during the quarter. Sei Investments Co. owned about 0.12% of Allegro MicroSystems worth $6,904,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its stake in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares during the period. Kestra Advisory Services LLC acquired a new stake in Allegro MicroSystems in the fourth quarter valued at about $34,000. CIBC Private Wealth Group LLC lifted its position in Allegro MicroSystems by 14,844.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd boosted its holdings in Allegro MicroSystems by 85.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after purchasing an additional 669 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Allegro MicroSystems by 815.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after purchasing an additional 1,908 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insider Buying and Selling at Allegro MicroSystems

In other news, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $45.46, for a total value of $759,682.06. Following the completion of the transaction, the director owned 12,805 shares of the company’s stock, valued at $582,115.30. The trade was a 56.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems 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 sale, the senior vice president directly owned 69,687 shares of the company’s stock, valued at $3,673,898.64. The trade was a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 68,607 shares of company stock valued at $3,213,714. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

ALGM has been the subject of several recent analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 price target on shares of Allegro MicroSystems in a report on Thursday, May 7th. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Needham & Company LLC upped their price target on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Finally, Mizuho cut their price target on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a report on Friday. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Allegro MicroSystems presently has an average rating of “Moderate Buy” and an average target price of $52.80.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $41.52 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The stock has a market cap of $7.74 billion, a price-to-earnings ratio of 692.12, a price-to-earnings-growth ratio of 1.10 and a beta of 1.94. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77. The business has a fifty day moving average of $51.73 and a 200-day moving average of $42.74.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. The firm had revenue of $259.24 million during the quarter, compared to analysts’ expectations of $251.44 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, analysts predict that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal 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.