Key Points
- Allegro MicroSystems CAO Roald Graham Webster sold 5,217 shares on May 21 at an average price of $44.88, totaling about $234,139. After the sale, he held 13,106 shares, a 28.47% reduction in his position.
- The stock was trading higher, opening at $45.95 and up 2.8% in the latest session. Allegro MicroSystems has a market cap of $8.51 billion and remains well above its 52-week low of $22.41.
- Recent earnings and analyst sentiment were positive: the company beat quarterly EPS and revenue estimates, and analysts currently rate the stock a Moderate Buy with an average target price of $51.80.
Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) CAO Roald Graham Webster sold 5,217 shares of Allegro MicroSystems stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total value of $234,138.96. Following the transaction, the chief accounting officer directly owned 13,106 shares in the company, valued at approximately $588,197.28. This trade represents a 28.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Allegro MicroSystems Trading Up 2.8%
ALGM opened at $45.95 on Friday. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of -510.50 and a beta of 2.02. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $51.40. The business's 50 day moving average is $38.72 and its two-hundred day moving average is $33.89. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly 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 company had revenue of $243.19 million for the quarter, compared to analyst estimates of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The firm's revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, research analysts predict that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.
Institutional Trading of Allegro MicroSystems
A number of institutional investors have recently modified their holdings of the business. Parallel Advisors LLC boosted its stake in shares of Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company's stock valued at $32,000 after buying an additional 302 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Allegro MicroSystems by 2.7% in the third quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company's stock valued at $430,000 after buying an additional 381 shares in the last quarter. Hantz Financial Services Inc. boosted its stake in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company's stock valued at $26,000 after buying an additional 419 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted 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 valued at $376,000 after buying an additional 419 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of Allegro MicroSystems by 2.1% in the third quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company's stock valued at $657,000 after buying an additional 466 shares in the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages have weighed in on ALGM. Barclays lifted their target price on Allegro MicroSystems from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Jefferies Financial Group reiterated a "buy" rating and issued a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Morgan Stanley upgraded Allegro MicroSystems from an "equal weight" rating to an "overweight" rating and set a $51.00 target price on the stock in a research note on Friday, February 13th. Mizuho lifted their target price on Allegro MicroSystems from $44.00 to $54.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Finally, Wells Fargo & Company lifted their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $51.80.
Get Our Latest Research Report on ALGM
About Allegro MicroSystems
(
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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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