Analog Century Management LP Acquires 715,119 Shares of Allegro MicroSystems, Inc. $ALGM

Analog Century Management LP boosted its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 60.9% in the fourth quarter, Holdings Channel reports. The firm owned 1,890,072 shares of the company’s stock after purchasing an additional 715,119 shares during the quarter. Allegro MicroSystems comprises about 2.5% of Analog Century Management LP’s portfolio, making the stock its 22nd biggest holding. Analog Century Management LP’s holdings in Allegro MicroSystems were worth $49,860,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGM. Hantz Financial Services Inc. lifted its stake in Allegro MicroSystems by 86.9% during the third 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 period. Kestra Advisory Services LLC bought a new position in Allegro MicroSystems during the fourth quarter worth about $34,000. CIBC Private Wealth Group LLC lifted its stake 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 purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd lifted 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 purchasing an additional 669 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after purchasing an additional 1,908 shares during the period. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $50.40 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. The firm has a market cap of $9.39 billion, a price-to-earnings ratio of -559.94 and a beta of 1.98. The company has a 50 day moving average of $43.99 and a 200-day moving average of $36.32. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $54.40.

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

Analyst Upgrades and Downgrades

A number of research analysts have commented on ALGM shares. Wall Street Zen cut shares of Allegro MicroSystems from a “buy” rating to a “hold” rating in a research note on Saturday. Needham & Company LLC raised their price target on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. UBS Group raised their price objective 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. Finally, Barclays raised their price objective on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $51.80.

Insiders Place Their Bets

In related news, CEO Michael Doogue sold 30,089 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $47.23, for a total value 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 $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the sale, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at approximately $588,197.28. This represents a 28.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 68,607 shares of company stock valued at $3,213,714 over the last quarter. Company insiders own 0.40% of the company’s stock.

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.