Key Points
- Allegro MicroSystems SVP Erin Hagen sold 2,285 shares at an average price of $44.39, totaling $101,431.15. Her remaining direct ownership fell 6.85% to 31,052 shares.
- The stock opened at $42.47 and has traded between $22.41 and $71.77 over the past year. Allegro reported quarterly EPS of $0.23, exceeding estimates, while revenue rose 27.5% year over year to $259.24 million.
- Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $52.80; institutional investors own 56.45% of the company.
Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) SVP Erin Hagen sold 2,285 shares of the firm's stock in a transaction on Monday, August 10th. The stock was sold at an average price of $44.39, for a total value of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares of the company's stock, valued at $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Allegro MicroSystems Price Performance
Allegro MicroSystems stock opened at $42.47 on Thursday. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $50.71 and a 200 day moving average price of $43.21. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $71.77. The stock has a market cap of $7.92 billion, a P/E ratio of 707.95, a PEG ratio of 1.34 and a beta of 1.94.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company had revenue of $259.24 million for the quarter, compared to analyst estimates of $251.44 million. During the same period in the previous year, the business posted $0.09 EPS. Allegro MicroSystems's revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.
Hedge Funds Weigh In On Allegro MicroSystems
A number of hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. purchased a new stake in Allegro MicroSystems in the second quarter valued at approximately $31,000. Parallel Advisors LLC lifted its stake in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company's stock worth $32,000 after purchasing an additional 302 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Allegro MicroSystems during the fourth quarter worth $34,000. CIBC Private Wealth Group LLC boosted its position in shares of Allegro MicroSystems by 14,844.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company's stock worth $35,000 after buying an additional 1,336 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Allegro MicroSystems by 85.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company's stock valued at $38,000 after buying an additional 669 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.
Wall Street Analyst Weigh In
ALGM has been the subject of several analyst reports. Morgan Stanley increased their price objective on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. UBS Group upped their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Mizuho lowered their price target on Allegro MicroSystems from $67.00 to $58.00 and set an "outperform" rating for the company in a report on Friday, July 31st. Barclays downgraded Allegro MicroSystems from an "overweight" rating to an "equal weight" rating and set a $48.00 price objective for the company. in a research report on Monday, July 20th. Finally, Evercore restated an "outperform" rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $52.80.
Check Out Our Latest Stock Analysis on ALGM
Allegro MicroSystems Company Profile
(
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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