Allegro MicroSystems (NASDAQ:ALGM) SVP Erin Hagen Sells 2,285 Shares

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock traded down $0.05 during trading hours on Wednesday, hitting $42.47. 1,088,111 shares of the company traded hands, compared to its average volume of 2,609,295. The firm has a market cap of $7.92 billion, a P/E ratio of 707.95, a P/E/G ratio of 1.34 and a beta of 1.94. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $50.92 and its two-hundred day simple moving average is $43.15. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77.

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

Institutional Investors Weigh In On Allegro MicroSystems

Institutional investors and hedge funds have recently modified their holdings of the stock. Rakuten Securities Inc. acquired a new position in shares of Allegro MicroSystems in the 2nd quarter worth $31,000. Parallel Advisors LLC increased its stake in Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after purchasing an additional 302 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in Allegro MicroSystems during the 4th quarter worth about $34,000. CIBC Private Wealth Group LLC raised its holdings 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 worth $35,000 after buying an additional 1,336 shares during the period. Finally, 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 valued at $38,000 after buying an additional 669 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 target price for the company. in a research report on Monday, July 20th. Jefferies Financial Group reiterated a “buy” rating and set a $62.00 price target on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Morgan Stanley boosted their price objective on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Needham & Company LLC upped their price objective on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Finally, UBS Group raised their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.80.

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.