Pinpoint Asset Management Singapore Pte. Ltd. Takes Position in Allegro MicroSystems, Inc. $ALGM

Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 12,050 shares of the company’s stock, valued at approximately $318,000.

Several other institutional investors have also modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in shares of Allegro MicroSystems by 5.5% during the 4th quarter. Advisors Asset Management Inc. now owns 23,744 shares of the company’s stock valued at $626,000 after purchasing an additional 1,245 shares in the last quarter. Federation des caisses Desjardins du Quebec bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at about $57,000. HRT Financial LP lifted its holdings in shares of Allegro MicroSystems by 21.4% during the 4th quarter. HRT Financial LP now owns 90,344 shares of the company’s stock valued at $2,383,000 after purchasing an additional 15,949 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at about $11,507,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Allegro MicroSystems by 8.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,140,147 shares of the company’s stock valued at $56,462,000 after purchasing an additional 169,597 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on ALGM. Barclays lifted their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Mizuho lifted their target price on Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Wall Street Zen lowered Allegro MicroSystems from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Finally, Wells Fargo & Company lifted their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.80.

Insider Activity

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president owned 69,687 shares of the company’s stock, valued at $3,673,898.64. The trade was a 6.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Doogue sold 30,089 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.23, for a total value of $1,421,103.47. Following the transaction, the chief executive officer directly owned 252,797 shares in the company, valued at $11,939,602.31. This trade represents a 10.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 68,607 shares of company stock worth $3,213,714. Corporate insiders own 0.40% of the company’s stock.

Allegro MicroSystems Stock Up 5.1%

Shares of Allegro MicroSystems stock opened at $50.40 on Friday. The business’s 50 day simple moving average is $43.99 and its 200 day simple moving average is $36.32. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $54.40. The firm has a market cap of $9.39 billion, a PE ratio of -559.94 and a beta of 1.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45.

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

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.