Key Points
- Allegro MicroSystems SVP Ian Kent sold 2,642 shares on May 18 at an average price of $41.56, totaling about $109,801.52. The filing says the sale was made to cover tax withholding obligations tied to vested equity awards.
- ALGM shares were up 0.7% and opened at $41.65. The stock has traded between a 1-year low of $22.41 and high of $51.40.
- The company recently beat quarterly expectations, reporting EPS of $0.17 versus $0.16 expected and revenue of $243.19 million, up 26.1% year over year. Analysts currently rate the stock a Moderate Buy with a consensus price target of $51.80.
Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) SVP Ian Kent sold 2,642 shares of the business's stock in a transaction on Monday, May 18th. The stock was sold at an average price of $41.56, for a total value of $109,801.52. Following the completion of the transaction, the senior vice president owned 25,392 shares of the company's stock, valued at $1,055,291.52. This represents a 9.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Allegro MicroSystems Stock Up 0.7%
ALGM stock opened at $41.65 on Wednesday. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $51.40. The business has a fifty day moving average price of $38.00 and a 200-day moving average price of $33.61. 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 stock has a market capitalization of $7.72 billion, a P/E ratio of -462.73 and a beta of 2.02.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping 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 firm had revenue of $243.19 million during the quarter, compared to analysts' expectations of $235.94 million. During the same quarter in the previous year, the business earned $0.06 earnings per share. The company's revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities analysts forecast that Allegro MicroSystems, Inc. will post 0.75 earnings per share for the current fiscal year.
Institutional Trading of Allegro MicroSystems
Several large investors have recently modified their holdings of ALGM. Royal Bank of Canada grew its holdings in shares of Allegro MicroSystems by 70.0% in the first quarter. Royal Bank of Canada now owns 117,923 shares of the company's stock worth $2,964,000 after acquiring an additional 48,554 shares during the period. AQR Capital Management LLC bought a new stake in Allegro MicroSystems during the first quarter valued at about $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Allegro MicroSystems by 31.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company's stock valued at $8,911,000 after purchasing an additional 85,607 shares during the period. Prudential Financial Inc. grew its holdings in Allegro MicroSystems by 24.0% during the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company's stock valued at $536,000 after purchasing an additional 3,040 shares during the period. Finally, First Trust Advisors LP grew its holdings in Allegro MicroSystems by 5.4% during the second quarter. First Trust Advisors LP now owns 576,478 shares of the company's stock valued at $19,710,000 after purchasing an additional 29,531 shares during the period. Institutional investors own 56.45% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on ALGM. Mizuho boosted their price target on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. UBS Group lifted their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Evercore reaffirmed an "outperform" rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Barclays lifted their price objective on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Finally, TD Cowen lifted their price objective on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $51.80.
Read Our Latest Analysis on ALGM
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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