Van ECK Associates Corp Has $4.91 Million Stake in Allegro MicroSystems, Inc. $ALGM

Van ECK Associates Corp grew its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 68.8% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 70,504 shares of the company’s stock after purchasing an additional 28,738 shares during the period. Van ECK Associates Corp’s holdings in Allegro MicroSystems were worth $4,908,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Transamerica Financial Advisors LLC purchased a new stake in shares of Allegro MicroSystems in the second quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new position in shares of Allegro MicroSystems during the second quarter valued at approximately $31,000. Parallel Advisors LLC grew its holdings in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after buying an additional 302 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in Allegro MicroSystems during the fourth quarter worth $34,000. Finally, CIBC Private Wealth Group LLC grew its holdings 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 buying an additional 1,336 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALGM has been the topic of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. 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 research note on Friday, May 8th. Mizuho lowered their target price on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Barclays lowered 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. Finally, Weiss Ratings upgraded shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $53.45.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $35.47 on Thursday. The stock has a 50 day moving average of $46.41 and a 200 day moving average of $43.24. The company has a market capitalization of $6.61 billion, a price-to-earnings ratio of 591.27, a PEG ratio of 1.12 and a beta of 1.91. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $259.24 million for the quarter, compared to analysts’ expectations of $251.44 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The business’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

Insider Activity at Allegro MicroSystems

In other news, SVP Erin Hagen sold 2,285 shares of Allegro MicroSystems stock in a transaction on Monday, August 10th. The stock was 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 $1,378,398.28. The trade was a 6.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

About Allegro MicroSystems

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.