Insider Selling: Allegro MicroSystems (NASDAQ:ALGM) CAO Sells 5,217 Shares of Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) CAO Roald Graham Webster sold 5,217 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer owned 13,106 shares in the company, valued at $588,197.28. This represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Allegro MicroSystems Price Performance

Shares of Allegro MicroSystems stock traded up $1.25 during trading on Friday, hitting $45.95. 1,857,713 shares of the company were exchanged, compared to its average volume of 2,437,788. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $51.40. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average price of $38.46 and a 200 day moving average price of $33.81. The stock has a market capitalization of $8.51 billion, a price-to-earnings ratio of -510.50 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The firm had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. During the same quarter in the prior year, the firm earned $0.06 EPS. Allegro MicroSystems’s quarterly 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. On average, equities analysts expect that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors grew 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 purchasing an additional 920,365 shares during the period. Vanguard Group Inc. increased its position in 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 during the last quarter. Invesco Ltd. raised its stake in Allegro MicroSystems by 44.0% during the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after purchasing an additional 2,338,624 shares during the period. State Street Corp boosted its holdings in shares of Allegro MicroSystems by 1.5% in the 4th quarter. State Street Corp now owns 5,359,488 shares of the company’s stock valued at $141,383,000 after purchasing an additional 78,203 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Allegro MicroSystems by 77.8% in the 4th 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 purchasing an additional 1,227,317 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analyst Weigh In

ALGM has been the topic of several analyst reports. Evercore reaffirmed an “outperform” rating and set a $53.00 price target on shares of Allegro MicroSystems in a research note on Friday, May 8th. Mizuho upped their price objective on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. UBS Group raised their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC lifted their target price on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a report on Friday, February 13th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $51.80.

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.