Key Points
- Allegro MicroSystems SVP Richard Madormo sold 5,000 shares on June 3 at an average price of $52.72, totaling $263,600. After the sale, he still held 69,687 shares valued at about $3.67 million.
- The company reported stronger-than-expected quarterly results, with EPS of $0.17 versus $0.16 expected and revenue of $243.19 million, up 26.1% year over year. Allegro also issued Q1 2027 guidance of $0.19 to $0.23 EPS.
- Wall Street sentiment is broadly positive, with 10 analysts rating the stock a Buy and a consensus price target of $51.80. The stock recently traded near its 52-week high of $54.40.
Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) SVP Richard Madormo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the completion of the sale, the senior vice president directly owned 69,687 shares of the company's stock, valued at approximately $3,673,898.64. This represents a 6.69% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Allegro MicroSystems Price Performance
NASDAQ:ALGM opened at $53.62 on Friday. The stock has a 50 day moving average price of $42.05 and a 200 day moving average price of $35.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. The stock has a market cap of $9.99 billion, a PE ratio of -595.71 and a beta of 1.98. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $54.40.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities research analysts expect that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the company. Parallel Advisors LLC raised its stake in 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. Bank of America Corp DE raised its stake in Allegro MicroSystems by 48.3% in the first quarter. Bank of America Corp DE now owns 855,453 shares of the company's stock valued at $26,972,000 after buying an additional 278,798 shares in the last quarter. California State Teachers Retirement System increased its position in shares of Allegro MicroSystems by 21.8% during the first quarter. California State Teachers Retirement System now owns 149,826 shares of the company's stock worth $4,724,000 after purchasing an additional 26,828 shares in the last quarter. Maverick Capital Ltd. acquired a new stake in shares of Allegro MicroSystems during the first quarter worth about $1,331,000. Finally, Quantinno Capital Management LP increased its position in shares of Allegro MicroSystems by 104.9% during the first quarter. Quantinno Capital Management LP now owns 133,902 shares of the company's stock worth $4,222,000 after purchasing an additional 68,549 shares in the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have issued reports on ALGM. Weiss Ratings reissued a "sell (d-)" rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Mizuho raised their target price on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Jefferies Financial Group reissued a "buy" rating and set a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Needham & Company LLC raised their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Barclays raised their price target on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $51.80.
Get Our Latest Research Report on ALGM
Allegro MicroSystems Company Profile
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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.
Further Reading
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