Commerce Bank Makes New $1.09 Million Investment in Allegro MicroSystems, Inc. $ALGM

Commerce Bank bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,646 shares of the company’s stock, valued at approximately $1,089,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in Allegro MicroSystems in the second quarter valued at $31,000. Parallel Advisors LLC boosted its stake in Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares during the last quarter. Harbor Investment Advisory LLC acquired a new position in Allegro MicroSystems during the 2nd quarter worth $72,000. Kestra Advisory Services LLC acquired a new position in Allegro MicroSystems during the 4th quarter worth $34,000. Finally, Quantbot Technologies LP acquired a new position in Allegro MicroSystems during the 2nd quarter worth $89,000. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Performance

Allegro MicroSystems stock opened at $36.89 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a fifty day moving average price of $48.61 and a two-hundred day moving average price of $43.45. The company has a market cap of $6.88 billion, a PE ratio of 614.94, a P/E/G ratio of 1.18 and a beta of 1.94.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company had revenue of $259.24 million for the quarter, compared to analysts’ expectations of $251.44 million. During the same period in the prior year, the company earned $0.09 earnings per share. The firm’s 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. Research analysts expect that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target for the company. in a research note on Monday, July 20th. UBS Group boosted their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Finally, Benchmark initiated coverage on Allegro MicroSystems in a report on Wednesday, August 12th. They set a “buy” rating and a $60.00 target price on the stock. One 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

Insider Transactions at Allegro MicroSystems

In related news, SVP Richard Madormo sold 5,000 shares of the business’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 sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the senior vice president owned 31,052 shares in the company, valued at approximately $1,378,398.28. This trade represents a 6.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is owned by corporate insiders.

Allegro MicroSystems 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.