Lisanti Capital Growth LLC Purchases New Position in Allegro MicroSystems, Inc. $ALGM

Lisanti Capital Growth LLC acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 107,865 shares of the company’s stock, valued at approximately $7,510,000. Allegro MicroSystems makes up about 1.7% of Lisanti Capital Growth LLC’s portfolio, making the stock its 7th largest position.

Several other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC increased its position in shares of 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 purchasing an additional 302 shares in the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at about $72,000. Kestra Advisory Services LLC purchased a new position in Allegro MicroSystems during the 4th quarter worth approximately $34,000. CIBC Private Wealth Group LLC grew its stake 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 last quarter. Finally, Caitong International Asset Management Co. Ltd increased its position 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 buying an additional 669 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Down 2.6%

ALGM opened at $38.35 on Thursday. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $71.77. The business has a 50 day moving average price of $50.13 and a two-hundred day moving average price of $43.49. 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 company has a market cap of $7.15 billion, a PE ratio of 639.27, a P/E/G ratio of 1.24 and a beta of 1.94.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 8.30% and a net margin of 1.50%.The company’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the business posted $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

ALGM has been the subject of a number of research reports. Needham & Company LLC boosted their price objective on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. TD Cowen cut their target price on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Morgan Stanley upped their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Evercore reiterated an “outperform” rating and set a $53.00 price target on shares of Allegro MicroSystems in a research note on Friday, May 8th. Finally, Barclays downgraded shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a research report on Monday, July 20th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $53.45.

Insider Buying and Selling at Allegro MicroSystems

In related news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction 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 completion of the sale, the senior vice president directly owned 69,687 shares of the company’s stock, valued at $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Erin Hagen sold 2,285 shares of Allegro MicroSystems stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares in the company, valued at approximately $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.50% of the stock is owned by company insiders.

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.