Jupiter Topco LLC Invests $3.99 Million in Allegro MicroSystems, Inc. $ALGM

Jupiter Topco LLC purchased a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 57,329 shares of the company’s stock, valued at approximately $3,991,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in shares of Allegro MicroSystems during the second quarter worth about $31,000. Parallel Advisors LLC boosted its holdings 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 purchasing an additional 302 shares during the last quarter. Harbor Investment Advisory LLC purchased a new position in Allegro MicroSystems in the second quarter valued at about $72,000. Kestra Advisory Services LLC acquired a new stake in Allegro MicroSystems during the 4th quarter valued at approximately $34,000. Finally, Quantbot Technologies LP acquired a new stake in Allegro MicroSystems during the 2nd quarter valued at approximately $89,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $44.39, for a total value of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares in the company, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Evercore reaffirmed an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. Morgan Stanley raised their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Needham & Company LLC lifted their price target on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Finally, Mizuho reduced their price objective on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $35.47 on Wednesday. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33. The stock has a fifty day moving average price of $46.81 and a 200 day moving average price of $43.29. The company has a market cap of $6.61 billion, a P/E ratio of 591.27, a PEG ratio of 1.14 and a beta of 1.91.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The company had revenue of $259.24 million for the quarter, compared to analysts’ expectations of $251.44 million. During the same period last year, the business posted $0.09 earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, research analysts forecast that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

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.