Allegro MicroSystems, Inc. $ALGM Shares Sold by Peregrine Capital Management LLC

Peregrine Capital Management LLC lessened its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 259,764 shares of the company’s stock after selling 11,124 shares during the period. Peregrine Capital Management LLC owned 0.14% of Allegro MicroSystems worth $8,190,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of ALGM. Bank of America Corp DE increased its position in Allegro MicroSystems by 136.6% during the third quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock worth $27,818,000 after purchasing an additional 3,556,410 shares during the last quarter. Invesco Ltd. boosted its holdings in Allegro MicroSystems by 44.0% in the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after purchasing an additional 2,338,624 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Allegro MicroSystems by 189.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after buying an additional 1,806,183 shares during the period. Norges Bank purchased a new stake in shares of Allegro MicroSystems in the 4th quarter valued at approximately $38,457,000. Finally, Adage Capital Partners GP L.L.C. increased its holdings in shares of Allegro MicroSystems by 77.8% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock worth $73,968,000 after buying an additional 1,227,317 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $69.62 on Wednesday. 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 firm has a market cap of $12.97 billion, a P/E ratio of -773.47 and a beta of 1.98. The firm’s 50 day moving average price is $49.46 and its 200-day moving average price is $39.06. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The firm had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. During the same quarter last year, the firm earned $0.06 EPS. The firm’s revenue for the quarter was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, equities research analysts predict that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALGM shares. Needham & Company LLC lifted their price target on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. UBS Group raised their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Evercore restated an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. Mizuho upped their price target on Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Ten investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.60.

Insider Transactions at Allegro MicroSystems

In related news, Director Susan D. Lynch sold 16,711 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total value of $759,682.06. Following the sale, the director owned 12,805 shares in the company, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the transaction, the chief accounting officer owned 13,106 shares of the company’s stock, valued at $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 68,607 shares of company stock worth $3,213,714. 0.50% of the stock is owned by corporate 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.