Trillium Asset Management LLC Makes New $9.98 Million Investment in Allegro MicroSystems, Inc. $ALGM

Trillium Asset Management LLC bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 143,348 shares of the company’s stock, valued at approximately $9,980,000.

Other large investors also recently bought and sold shares of the company. State of Wyoming purchased a new stake in shares of Allegro MicroSystems in the 2nd quarter worth about $2,247,000. Norges Bank purchased a new position in Allegro MicroSystems during the 4th quarter valued at about $38,457,000. Nippon Life Global Investors Americas Inc. purchased a new position in Allegro MicroSystems during the 2nd quarter valued at about $10,016,000. Bank of America Corp DE increased its holdings in Allegro MicroSystems by 48.3% during the 1st quarter. Bank of America Corp DE now owns 855,453 shares of the company’s stock valued at $26,972,000 after acquiring an additional 278,798 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Allegro MicroSystems during the first quarter worth about $1,331,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insider Buying and Selling

In related news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president directly owned 69,687 shares in the company, valued at $3,673,898.64. The trade was a 6.69% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.50% of the company’s stock.

Allegro MicroSystems Trading Down 3.0%

Shares of ALGM stock opened at $37.19 on Friday. The firm has a 50-day moving average price of $49.92 and a 200 day moving average price of $43.49. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of 619.94, a PEG ratio of 1.21 and a beta of 1.94. 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 released its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company had revenue of $259.24 million for the quarter, compared to analysts’ expectations of $251.44 million. During the same period last year, the company earned $0.09 EPS. The firm’s revenue for the quarter was up 27.5% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Research analysts forecast that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. 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 report on Friday, July 31st. TD Cowen dropped their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Jefferies Financial Group restated a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Mizuho reduced their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. Finally, Wells Fargo & Company increased their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given 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 $53.45.

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.