Erin Hagen Sells 2,285 Shares of Allegro MicroSystems (NASDAQ:ALGM) Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Erin Hagen sold 2,285 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares of the company’s stock, valued at $1,378,398.28. This represents a 6.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Allegro MicroSystems Stock Up 3.9%

ALGM stock opened at $44.13 on Friday. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $71.77. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 735.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.94. The firm’s 50-day moving average is $50.52 and its two-hundred day moving average is $43.29. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALGM. Rakuten Securities Inc. bought a new stake in shares of Allegro MicroSystems during the 2nd quarter worth $31,000. Parallel Advisors LLC raised its position 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 purchasing an additional 302 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Allegro MicroSystems during the fourth quarter worth $34,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Allegro MicroSystems by 14,844.4% during 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 last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in shares of Allegro MicroSystems by 85.8% during the fourth 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 during the last quarter. Institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

ALGM has been the topic of several research analyst reports. Needham & Company LLC lifted their price target on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. TD Cowen cut their price objective on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a report on Friday, July 31st. Wells Fargo & Company raised their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. UBS Group lifted their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Morgan Stanley boosted their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Ten 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.45.

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.