Key Points
- Director Susan Lynch sold 16,711 shares of Allegro MicroSystems on May 14 at an average price of $45.46, reducing her stake by 56.62% and generating about $759,682.
- ALGM shares were down 4.2% and opened Friday at $43.10, after trading near a 12-month range of $22.41 to $51.40.
- The company recently beat quarterly earnings and revenue estimates, reporting $0.17 EPS on $243.19 million in revenue, while analysts remain broadly positive with a consensus Moderate Buy rating and $51.80 target price.
Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) Director Susan Lynch sold 16,711 shares of the 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 directly owned 12,805 shares in the company, valued at $582,115.30. This trade represents a 56.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.
Allegro MicroSystems Stock Down 4.2%
Shares of NASDAQ ALGM opened at $43.10 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $7.99 billion, a PE ratio of -478.84 and a beta of 2.02. The stock's fifty day simple moving average is $37.64 and its two-hundred day simple moving average is $33.43. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $51.40.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The business had revenue of $243.19 million for the quarter, compared to analysts' expectations of $235.94 million. During the same quarter last year, the firm earned $0.06 EPS. The business's revenue for the quarter was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, analysts expect that Allegro MicroSystems, Inc. will post 0.73 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the company. UBS Group increased their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the company a "buy" rating in a report on Friday, May 8th. Evercore restated an "outperform" rating and issued a $53.00 target price on shares of Allegro MicroSystems in a research note on Friday, May 8th. Morgan Stanley upgraded Allegro MicroSystems from an "equal weight" rating to an "overweight" rating and set a $51.00 target price for the company in a research note on Friday, February 13th. TD Cowen raised their target price on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $51.80.
Check Out Our Latest Research Report on Allegro MicroSystems
Hedge Funds Weigh In On Allegro MicroSystems
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Castleark Management LLC purchased a new position in Allegro MicroSystems in the 1st quarter worth $4,648,000. Granahan Investment Management LLC raised its stake in shares of Allegro MicroSystems by 139.3% during the 1st quarter. Granahan Investment Management LLC now owns 215,001 shares of the company's stock valued at $6,779,000 after buying an additional 125,144 shares during the last quarter. Entropy Technologies LP raised its stake in shares of Allegro MicroSystems by 88.7% during the 1st quarter. Entropy Technologies LP now owns 67,719 shares of the company's stock valued at $2,135,000 after buying an additional 31,824 shares during the last quarter. Sei Investments Co. raised its stake in shares of Allegro MicroSystems by 126.0% during the 1st quarter. Sei Investments Co. now owns 218,976 shares of the company's stock valued at $6,904,000 after buying an additional 122,065 shares during the last quarter. Finally, State of Wyoming raised its stake in shares of Allegro MicroSystems by 29.7% during the 1st quarter. State of Wyoming now owns 13,834 shares of the company's stock valued at $436,000 after buying an additional 3,165 shares during the last quarter. Hedge funds and other institutional investors 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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