Key Points
- Allegro MicroSystems CEO Michael Doogue sold 30,089 shares on May 11 at an average price of $47.23, totaling about $1.42 million. After the sale, he still held 252,797 shares, reducing his stake by 10.64%.
- The company’s latest quarterly results beat expectations, with EPS of $0.17 versus the $0.16 consensus and revenue of $243.19 million versus $235.94 million expected. Revenue rose 26.1% year over year.
- Wall Street remains broadly positive on ALGM, with 10 Buy ratings, one Hold, and one Sell. The stock’s consensus rating is “Moderate Buy,” and the average price target is $51.80.
Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) SVP Sharon Briansky sold 8,948 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.54, for a total value of $425,387.92. Following the transaction, the senior vice president owned 75,232 shares of the company's stock, valued at $3,576,529.28. This trade represents a 10.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Allegro MicroSystems Price Performance
Allegro MicroSystems stock opened at $45.97 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21. The company has a market capitalization of $8.52 billion, a PE ratio of -510.72 and a beta of 2.02. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $51.40. The business has a 50 day simple moving average of $37.25 and a 200 day simple moving average of $33.27.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.Allegro MicroSystems's revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.73 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities analysts have commented on ALGM shares. UBS Group boosted their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Morgan Stanley upgraded shares of Allegro MicroSystems from an "equal weight" rating to an "overweight" rating and set a $51.00 price target on the stock in a research report on Friday, February 13th. Barclays increased their target price on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Evercore restated an "outperform" rating and set a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, Bank of America increased their target price on Allegro MicroSystems from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allegro MicroSystems presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.80.
Read Our Latest Research Report on ALGM
Institutional Trading of Allegro MicroSystems
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Research Global Investors increased its holdings in shares of 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of Allegro MicroSystems by 0.6% in the third quarter. Vanguard Group Inc. now owns 14,293,465 shares of the company's stock valued at $417,369,000 after purchasing an additional 87,526 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Allegro MicroSystems by 44.0% in the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company's stock valued at $201,835,000 after purchasing an additional 2,338,624 shares in the last quarter. State Street Corp increased its holdings in shares of Allegro MicroSystems by 1.5% in the fourth 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Allegro MicroSystems by 77.8% in the fourth 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 in the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.
About Allegro MicroSystems
(
Get Free Report)
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.
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