95,101 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Man Group plc

Man Group plc acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 95,101 shares of the company’s stock, valued at approximately $6,621,000. Man Group plc owned 0.05% of Allegro MicroSystems at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ALGM. Parallel Advisors LLC boosted its stake in shares of Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after buying an additional 302 shares during the period. Vanguard Personalized Indexing Management LLC increased its stake in shares of Allegro MicroSystems by 3.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock worth $376,000 after acquiring an additional 419 shares during the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Allegro MicroSystems during the second quarter worth $31,000. State of Michigan Retirement System raised its holdings in shares of Allegro MicroSystems by 2.0% during the first quarter. State of Michigan Retirement System now owns 29,900 shares of the company’s stock worth $943,000 after acquiring an additional 600 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its position in Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after purchasing an additional 669 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

ALGM opened at $35.77 on Friday. The stock’s 50 day simple moving average is $47.71 and its 200-day simple moving average is $43.37. 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 $6.67 billion, a PE ratio of 596.27, a P/E/G ratio of 1.13 and a beta of 1.94. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $251.44 million. During the same period in the previous year, the business earned $0.09 EPS. The firm’s 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. Sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Erin Hagen sold 2,285 shares of the firm’s stock in a transaction that occurred on 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 sale, the senior vice president owned 31,052 shares of the company’s stock, valued at $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the business’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the sale, the senior vice president owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. The trade was a 6.69% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

ALGM has been the subject of a number of recent research reports. Evercore reiterated an “outperform” rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. UBS Group raised their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Benchmark began coverage on Allegro MicroSystems in a research note on Wednesday, August 12th. They set a “buy” rating and a $60.00 price target for the company. Finally, Jefferies Financial Group reissued a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.45.

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.