Trillium Asset Management LLC Acquires Shares of 143,348 Allegro MicroSystems, Inc. $ALGM

Trillium Asset Management LLC acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 143,348 shares of the company’s stock, valued at approximately $9,980,000. Trillium Asset Management LLC owned 0.08% of Allegro MicroSystems at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Vise Technologies Inc. acquired a new position in shares of Allegro MicroSystems in the second quarter valued at approximately $313,000. Lisanti Capital Growth LLC acquired a new stake in shares of Allegro MicroSystems during the second quarter worth $7,510,000. Csenge Advisory Group acquired a new stake in shares of Allegro MicroSystems during the second quarter worth $1,198,000. Meeder Advisory Services Inc. acquired a new stake in shares of Allegro MicroSystems during the second quarter worth $290,000. Finally, BlackRock Inc. purchased a new position in Allegro MicroSystems in the 2nd quarter valued at $966,975,000. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Allegro MicroSystems

In other news, SVP Erin Hagen sold 2,285 shares of the stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $44.39, for a total value of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares in the company, valued at $1,378,398.28. This trade represents a 6.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard Madormo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the completion of the sale, the senior vice president owned 69,687 shares of the company’s stock, valued at $3,673,898.64. This trade represents a 6.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company’s stock.

Allegro MicroSystems Trading Down 3.0%

Shares of ALGM stock opened at $37.19 on Friday. The business’s fifty day moving average price is $49.92 and its 200 day moving average price is $43.49. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77. The firm has a market capitalization of $6.93 billion, a PE ratio of 619.94, a P/E/G ratio of 1.21 and a beta of 1.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ALGM shares. Barclays cut shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a research note on Monday, July 20th. Needham & Company LLC lifted their target price on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. Morgan Stanley boosted their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating and set a $62.00 price target on shares of Allegro MicroSystems in a report on Thursday, May 7th. Finally, Evercore restated an “outperform” rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.45.

Allegro MicroSystems 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.