Sharon Briansky Sells 8,948 Shares of Allegro MicroSystems (NASDAQ:ALGM) Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Sharon Briansky sold 8,948 shares of Allegro MicroSystems stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $47.54, for a total transaction of $425,387.92. Following the completion of the sale, the senior vice president owned 75,232 shares of the company’s stock, valued at approximately $3,576,529.28. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Allegro MicroSystems Stock Down 2.2%

Shares of NASDAQ:ALGM opened at $44.97 on Friday. The company has a fifty day moving average of $37.46 and a 200-day moving average of $33.36. The company has a market capitalization of $8.33 billion, a PE ratio of -499.61 and a beta of 2.02. 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, Inc. has a 52-week low of $22.41 and a 52-week high of $51.40.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, equities analysts predict that Allegro MicroSystems, Inc. will post 0.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALGM. UBS Group boosted their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Mizuho boosted their price target on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Barclays boosted their price target on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and a consensus target price of $51.80.

Institutional Trading of Allegro MicroSystems

Several institutional investors have recently modified their holdings of ALGM. Bank of America Corp DE grew its stake in shares of Allegro MicroSystems by 136.6% in the third quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock worth $27,818,000 after purchasing an additional 3,556,410 shares during the last quarter. Invesco Ltd. boosted its position in Allegro MicroSystems by 44.0% during the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after acquiring an additional 2,338,624 shares during the last quarter. Alliancebernstein L.P. boosted its position in Allegro MicroSystems by 189.4% during the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after acquiring an additional 1,806,183 shares during the last quarter. Norges Bank bought a new stake in Allegro MicroSystems during the fourth quarter valued at $38,457,000. Finally, Adage Capital Partners GP L.L.C. boosted its position in Allegro MicroSystems by 77.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after acquiring an additional 1,227,317 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

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.