Allegro MicroSystems (NASDAQ:ALGM) Director Sells $759,682.06 in Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) Director Susan Lynch sold 16,711 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total transaction of $759,682.06. Following the sale, the director owned 12,805 shares of the company’s stock, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Allegro MicroSystems Stock Performance

Shares of ALGM stock traded down $1.87 during trading hours on Friday, hitting $43.10. 3,525,788 shares of the company were exchanged, compared to its average volume of 2,455,544. The firm has a fifty day simple moving average of $37.46 and a 200 day simple moving average of $33.36. 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, Inc. has a 52-week low of $22.41 and a 52-week high of $51.40. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of -478.84 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last issued 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. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company had revenue of $243.19 million during the quarter, compared to analyst estimates of $235.94 million. During the same quarter last year, the business posted $0.06 EPS. Allegro MicroSystems’s quarterly revenue was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Research analysts predict that Allegro MicroSystems, Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Capital Research Global Investors boosted its holdings in Allegro MicroSystems by 5.8% in the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock worth $491,282,000 after buying an additional 920,365 shares during the period. Vanguard Group Inc. boosted its holdings in Allegro MicroSystems by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company’s stock worth $417,369,000 after buying an additional 87,526 shares during the period. Invesco Ltd. boosted its holdings in Allegro MicroSystems by 44.0% in the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after buying an additional 2,338,624 shares during the period. State Street Corp boosted its holdings in Allegro MicroSystems by 1.5% in the 4th quarter. State Street Corp now owns 5,359,488 shares of the company’s stock worth $141,383,000 after buying an additional 78,203 shares during the period. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in 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 worth $73,968,000 after buying an additional 1,227,317 shares during the period. 56.45% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALGM. Mizuho raised their price target on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wells Fargo & Company raised their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Bank of America raised their price objective on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Jefferies Financial Group reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.80.

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.