Pacer Advisors Inc. Sells 12,569 Shares of Allegro MicroSystems, Inc. $ALGM

Pacer Advisors Inc. decreased its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 38.9% during the 1st quarter, HoldingsChannel.com reports. The fund owned 19,744 shares of the company’s stock after selling 12,569 shares during the period. Pacer Advisors Inc.’s holdings in Allegro MicroSystems were worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ALGM. Parallel Advisors LLC raised its position in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after purchasing an additional 302 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Allegro MicroSystems by 3.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock valued at $376,000 after purchasing an additional 419 shares in the last quarter. State of Michigan Retirement System increased its stake in shares of Allegro MicroSystems by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 29,900 shares of the company’s stock valued at $943,000 after purchasing an additional 600 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after buying an additional 669 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of Allegro MicroSystems by 2.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,437 shares of the company’s stock worth $802,000 after buying an additional 700 shares in the last quarter. 56.45% of the stock is owned by institutional investors.

Insider Buying and Selling at Allegro MicroSystems

In related news, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction on Thursday, May 14th. The shares were sold at an average price of $45.46, for a total value of $759,682.06. Following the sale, the director owned 12,805 shares of the company’s stock, valued at $582,115.30. The trade was a 56.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Roald Graham Webster sold 5,217 shares of the business’s stock in a transaction on Thursday, May 21st. The stock was 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 directly owned 13,106 shares in the company, valued at approximately $588,197.28. This represents a 28.47% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 29,570 shares of company stock valued at $1,367,223. Insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Mizuho reduced their price objective 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. Wells Fargo & Company boosted their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Barclays cut shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 target price for the company. in a report on Monday, July 20th. UBS Group raised their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus price target of $52.80.

Allegro MicroSystems Stock Performance

NASDAQ:ALGM opened at $42.46 on Tuesday. The stock’s 50-day moving average is $51.08 and its 200-day moving average is $43.09. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30. The stock has a market cap of $7.91 billion, a P/E ratio of 707.78, a price-to-earnings-growth ratio of 1.38 and a beta of 1.94.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The business had revenue of $259.24 million during the quarter, compared to analyst estimates of $251.44 million. During the same quarter last year, the business earned $0.09 EPS. The firm’s quarterly revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

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.