45,132 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 45,132 shares of the company’s stock, valued at approximately $1,423,000.

A number of other institutional investors have also bought and sold shares of the business. Kestra Advisory Services LLC acquired a new position in shares of Allegro MicroSystems during the 4th quarter worth approximately $34,000. CIBC Private Wealth Group LLC lifted its position in 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 worth $35,000 after buying an additional 1,336 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in 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 worth $38,000 after buying an additional 669 shares during the last quarter. Farther Finance Advisors LLC grew 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 buying an additional 1,908 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec acquired a new stake in shares of Allegro MicroSystems in the 4th quarter worth $57,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Trading Down 4.4%

Allegro MicroSystems stock traded down $2.51 during trading on Friday, hitting $54.87. The company had a trading volume of 2,286,334 shares, compared to its average volume of 3,916,616. The stock has a market cap of $10.22 billion, a price-to-earnings ratio of -609.60 and a beta of 1.90. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77. The company’s 50 day simple moving average is $51.57 and its 200-day simple moving average is $40.59.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the prior year, the firm earned $0.06 earnings per share. The firm’s 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. As a group, analysts expect that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Insider Activity at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Sharon Briansky sold 8,948 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.54, for a total transaction of $425,387.92. Following the sale, the senior vice president directly owned 75,232 shares in the company, valued at $3,576,529.28. This represents a 10.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the senior vice president directly owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. The trade was a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,607 shares of company stock worth $3,213,714 over the last ninety days. Company insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

ALGM has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 7th. UBS Group increased their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. TD Cowen raised their price target on shares of Allegro MicroSystems from $55.00 to $70.00 and gave the stock a “buy” rating in a report on Monday, June 22nd. Jefferies Financial Group reiterated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Allegro MicroSystems has a consensus rating of “Moderate Buy” and an average price target of $55.60.

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.