VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.63 Million in Allegro MicroSystems, Inc. $ALGM

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,469 shares of the company’s stock, valued at approximately $1,634,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transamerica Financial Advisors LLC bought a new stake in shares of Allegro MicroSystems during the 2nd quarter valued at $27,000. Rakuten Securities Inc. acquired a new stake in shares of Allegro MicroSystems during the second quarter worth $31,000. Continuum Advisory LLC acquired a new stake in shares of Allegro MicroSystems during the second quarter worth $35,000. First Bancorp Inc ME bought a new stake in Allegro MicroSystems in the second quarter valued at about $49,000. Finally, Parallel Advisors LLC increased its holdings in Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after purchasing an additional 302 shares during the last quarter. 56.45% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the sale, the senior vice president directly owned 31,052 shares in the company, valued at approximately $1,378,398.28. This trade represents a 6.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.50% of the company’s stock.

Allegro MicroSystems Stock Up 2.9%

Shares of Allegro MicroSystems stock opened at $36.31 on Friday. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77. The business has a 50-day moving average of $42.89 and a two-hundred day moving average of $43.03. The company has a market capitalization of $6.77 billion, a P/E ratio of 605.27, a price-to-earnings-growth ratio of 1.11 and a beta of 1.91. 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 (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The company had revenue of $259.24 million for the quarter, compared to analyst estimates of $251.44 million. During the same quarter last year, the firm posted $0.09 earnings per share. Allegro MicroSystems’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. As a group, equities analysts predict that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. TD Cowen reduced their target price on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Mizuho lowered their price target on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Barclays downgraded shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target on the stock. in a research report on Monday, July 20th. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Finally, Needham & Company LLC boosted their price objective on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Allegro MicroSystems currently has an average rating of “Moderate Buy” and an average target price of $53.45.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc develops and manufactures semiconductor solutions that enable motion control, energy efficiency and intelligent system monitoring. The company primarily serves the automotive and industrial markets, providing integrated circuits and sensor technologies used in vehicles, factory automation, appliances, power systems and other electronic equipment.

Its product portfolio includes magnetic sensor ICs for measuring position, speed, current and motion; power management and regulation devices; motor driver ICs; LED driver solutions; and other application-specific integrated circuits.