Allegro MicroSystems, Inc. $ALGM Stock Holdings Decreased by Legal & General Group Plc

Legal & General Group Plc reduced its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 5.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 185,648 shares of the company’s stock after selling 11,329 shares during the period. Legal & General Group Plc’s holdings in Allegro MicroSystems were worth $4,897,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ALGM. Hantz Financial Services Inc. increased its position 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 worth $26,000 after acquiring an additional 419 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Allegro MicroSystems by 815.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after acquiring an additional 1,908 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of Allegro MicroSystems by 343.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,301 shares of the company’s stock worth $61,000 after acquiring an additional 1,782 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Allegro MicroSystems by 12,315.0% in the third quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock worth $73,000 after acquiring an additional 2,463 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Allegro MicroSystems in the third quarter worth approximately $161,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Performance

ALGM stock opened at $46.39 on Monday. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $8.64 billion, a price-to-earnings ratio of -515.39 and a beta of 1.98. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $54.40. The firm has a 50 day moving average of $42.32 and a two-hundred day moving average of $35.56.

Allegro MicroSystems (NASDAQ:ALGM) last posted its 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 during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on ALGM shares. Morgan Stanley raised shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research report on Friday, February 13th. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Barclays boosted their price objective on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Finally, Mizuho boosted their price objective on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $51.80.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the sale, the chief accounting officer directly owned 13,106 shares of the company’s stock, valued at $588,197.28. The trade was a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Richard Madormo sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction 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 $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.40% of the stock is owned by company insiders.

About Allegro MicroSystems

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.