Pinpoint Asset Management Singapore Pte. Ltd. Makes New Investment in Allegro MicroSystems, Inc. $ALGM

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 4th quarter, Holdings Channel.com reports. The fund purchased 12,050 shares of the company’s stock, valued at approximately $318,000.

Other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its position in shares of Allegro MicroSystems by 86.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after purchasing an additional 419 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after acquiring an additional 1,336 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Allegro MicroSystems by 815.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after acquiring an additional 1,908 shares during the period. Federation des caisses Desjardins du Quebec bought a new position in shares of Allegro MicroSystems during the 4th quarter worth approximately $57,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Allegro MicroSystems by 343.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,301 shares of the company’s stock worth $61,000 after acquiring an additional 1,782 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insider Activity at Allegro MicroSystems

In other news, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction on Monday, May 11th. The stock was sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the completion of the sale, the chief executive officer owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the sale, the senior vice president directly 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 SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 68,607 shares of company stock valued at $3,213,714. 0.40% of the stock is currently owned by insiders.

Allegro MicroSystems Stock Performance

ALGM opened at $50.40 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 business has a fifty day simple moving average of $43.99 and a 200 day simple moving average of $36.32. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $54.40. The company has a market capitalization of $9.39 billion, a PE ratio of -559.94 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 positive return on equity of 6.09% and a negative net margin of 1.67%.The firm had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter last year, the business earned $0.06 EPS. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Research analysts expect that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on ALGM. Jefferies Financial Group reiterated a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Wells Fargo & Company lifted their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Wall Street Zen downgraded Allegro MicroSystems from a “buy” rating to a “hold” rating in a research note on Saturday. Mizuho lifted their target price on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Finally, Barclays lifted their target price on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.80.

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.