Roubaix Capital LLC Takes $5.36 Million Position in Allegro MicroSystems, Inc. $ALGM

Roubaix Capital LLC bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 169,993 shares of the company’s stock, valued at approximately $5,360,000. Allegro MicroSystems makes up approximately 2.5% of Roubaix Capital LLC’s investment portfolio, making the stock its 18th largest position. Roubaix Capital LLC owned about 0.09% of Allegro MicroSystems as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Allegro MicroSystems by 136.6% in the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock worth $27,818,000 after buying an additional 3,556,410 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Allegro MicroSystems by 44.0% during the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after acquiring an additional 2,338,624 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Allegro MicroSystems by 189.4% during the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after acquiring an additional 1,806,183 shares during the last quarter. Norges Bank purchased a new position in shares of Allegro MicroSystems in the fourth quarter valued at approximately $38,457,000. Finally, Adage Capital Partners GP L.L.C. lifted its position in shares of Allegro MicroSystems by 77.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after acquiring an additional 1,227,317 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALGM. Evercore reaffirmed an “outperform” rating and issued a $53.00 price target on shares of Allegro MicroSystems in a research note on Friday, May 8th. Barclays increased their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Needham & Company LLC raised their price objective on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Finally, UBS Group upped their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems currently has an average rating of “Moderate Buy” and an average target price of $55.20.

Allegro MicroSystems Trading Down 1.4%

NASDAQ ALGM opened at $46.48 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 stock has a market capitalization of $8.66 billion, a P/E ratio of -516.39 and a beta of 1.90. The firm’s 50-day moving average is $51.58 and its two-hundred day moving average is $41.38. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The business had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. During the same period in the previous year, the firm earned $0.06 EPS. The business’s revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current year.

Insider Buying and Selling at Allegro MicroSystems

In other news, 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 value of $263,600.00. Following the completion of the transaction, the senior vice president owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Susan D. Lynch sold 16,711 shares of Allegro MicroSystems stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $45.46, for a total transaction 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. This trade represents a 56.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 68,607 shares of company stock valued at $3,213,714. Corporate insiders own 0.50% of the company’s stock.

Allegro MicroSystems Company 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.