Maverick Capital Ltd. Takes Position in Allegro MicroSystems, Inc. $ALGM

Maverick Capital Ltd. bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the first quarter, HoldingsChannel reports. The institutional investor bought 42,224 shares of the company’s stock, valued at approximately $1,331,000.

Other large investors have also made changes to their positions in the company. Parallel Advisors LLC boosted 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 acquiring an additional 302 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Allegro MicroSystems during the 4th quarter worth about $34,000. CIBC Private Wealth Group LLC lifted its position in Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after purchasing an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd lifted its position in Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after purchasing an additional 669 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of 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 purchasing an additional 1,908 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insider Activity at Allegro MicroSystems

In other news, SVP Ian Kent sold 2,642 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $41.56, for a total transaction of $109,801.52. Following the completion of the sale, the senior vice president owned 25,392 shares of the company’s stock, valued at $1,055,291.52. This represents a 9.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the sale, the chief accounting officer owned 13,106 shares in the company, valued at approximately $588,197.28. The trade was a 28.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,607 shares of company stock valued at $3,213,714 over the last three months. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ALGM. Needham & Company LLC lifted their price target on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group restated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. UBS Group raised their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Mizuho upped their price objective on Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.20.

Allegro MicroSystems Trading Up 1.7%

NASDAQ:ALGM opened at $46.80 on Tuesday. 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 business’s 50-day simple moving average is $51.96 and its 200-day simple moving average is $42.34. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77. The stock has a market capitalization of $8.72 billion, a PE ratio of -519.94 and a beta of 1.90.

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

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.