Clearbridge Investments LLC Has $76.95 Million Stake in Allegro MicroSystems, Inc. $ALGM

Clearbridge Investments LLC trimmed its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 0.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,916,785 shares of the company’s stock after selling 16,021 shares during the period. Clearbridge Investments LLC’s holdings in Allegro MicroSystems were worth $76,945,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Allegro MicroSystems by 0.6% during the third quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock worth $417,369,000 after purchasing an additional 87,526 shares in the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Allegro MicroSystems during the fourth quarter worth approximately $783,000. Candriam S.C.A. acquired a new position in shares of Allegro MicroSystems during the third quarter worth approximately $2,604,000. Royce & Associates LP acquired a new position in Allegro MicroSystems in the third quarter valued at approximately $2,985,000. Finally, Capital Research Global Investors lifted its holdings in Allegro MicroSystems by 5.8% in the third quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock valued at $491,282,000 after buying an additional 920,365 shares during the period. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 5,217 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the transaction, the chief accounting officer owned 13,106 shares in the company, valued at approximately $588,197.28. This represents a 28.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Doogue sold 30,089 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the completion of the sale, the chief executive officer owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. This represents a 10.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,607 shares of company stock valued at $3,213,714 in the last three months. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on ALGM shares. Barclays increased their price objective on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Evercore restated an “outperform” rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. UBS Group increased their price objective on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Mizuho increased their price objective on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, May 8th. Finally, Morgan Stanley upgraded shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allegro MicroSystems has a consensus rating of “Moderate Buy” and an average price target of $51.80.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $48.19 on Tuesday. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $54.40. The firm has a fifty day simple moving average of $42.66 and a 200 day simple moving average of $35.74. The stock has a market capitalization of $8.97 billion, a price-to-earnings ratio of -535.38 and a beta of 1.98. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30.

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

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.