Allegro MicroSystems, Inc. (NASDAQ:ALGM) Director Richard R. Lury Sells 11,900 Shares of Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) Director Richard R. Lury sold 11,900 shares of the stock in a transaction dated Monday, September 13th. The shares were sold at an average price of $32.60, for a total value of $387,940.00. Following the completion of the transaction, the director now owns 25,300 shares in the company, valued at approximately $824,780. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Shares of NASDAQ ALGM opened at $33.98 on Wednesday. The stock has a market cap of $6.44 billion and a PE ratio of 30.61. The company has a quick ratio of 3.11, a current ratio of 3.80 and a debt-to-equity ratio of 0.04. Allegro MicroSystems, Inc. has a 52-week low of $16.78 and a 52-week high of $34.66. The business has a 50-day moving average price of $28.50 and a 200 day moving average price of $26.97.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Wednesday, July 28th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Allegro MicroSystems had a return on equity of 10.10% and a net margin of 6.74%. The firm had revenue of $188.14 million during the quarter, compared to analysts’ expectations of $177.55 million. Sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.63 earnings per share for the current year.

A number of research firms have recently commented on ALGM. Mizuho increased their price objective on Allegro MicroSystems from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, July 30th. Zacks Investment Research downgraded Allegro MicroSystems from a “buy” rating to a “hold” rating in a report on Monday. Finally, William Blair began coverage on Allegro MicroSystems in a report on Wednesday, June 30th. They issued an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $34.11.

A number of institutional investors have recently bought and sold shares of ALGM. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Allegro MicroSystems by 20.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 42,955 shares of the company’s stock worth $1,089,000 after acquiring an additional 7,255 shares during the period. Treasurer of the State of North Carolina lifted its position in Allegro MicroSystems by 60.4% during the 1st quarter. Treasurer of the State of North Carolina now owns 17,020 shares of the company’s stock worth $431,000 after acquiring an additional 6,410 shares during the period. Envestnet Asset Management Inc. lifted its position in Allegro MicroSystems by 6.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 27,682 shares of the company’s stock worth $702,000 after acquiring an additional 1,700 shares during the period. Los Angeles Capital Management LLC acquired a new stake in Allegro MicroSystems during the 1st quarter worth approximately $495,000. Finally, M&T Bank Corp lifted its position in Allegro MicroSystems by 50.8% during the 1st quarter. M&T Bank Corp now owns 15,334 shares of the company’s stock worth $388,000 after acquiring an additional 5,166 shares during the period. 42.09% of the stock is owned by institutional investors.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, and regulator and LED driver ICs, as well as photonic and 3D sensing components, including photodiodes, eye-safe lasers and rangefinders, and readout ICs for LiDAR applications.

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