Allegro MicroSystems (NASDAQ:ALGM) SVP Sharon Briansky Sells 8,948 Shares

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Sharon Briansky sold 8,948 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $47.54, for a total value of $425,387.92. Following the sale, the senior vice president directly owned 75,232 shares in the company, valued at $3,576,529.28. This trade represents a 10.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Allegro MicroSystems Price Performance

ALGM traded up $0.10 during trading on Wednesday, reaching $45.97. 2,103,443 shares of the company were exchanged, compared to its average volume of 2,449,078. The company’s 50-day moving average is $37.06 and its two-hundred day moving average is $33.16. The company has a market cap of $8.52 billion, a price-to-earnings ratio of -510.72 and a beta of 2.02. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $51.40.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.01. The business had revenue of $243.19 million for 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% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Research analysts forecast that Allegro MicroSystems, Inc. will post 0.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegro MicroSystems

Several institutional investors and hedge funds have recently bought and sold shares of ALGM. Hantz Financial Services Inc. grew its position in Allegro MicroSystems by 86.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after acquiring an additional 419 shares during the last quarter. Quent Capital LLC bought a new position in Allegro MicroSystems during the 3rd quarter worth approximately $28,000. Parallel Advisors LLC grew its position in Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Allegro MicroSystems during the 4th quarter worth approximately $34,000. Finally, CIBC Private Wealth Group LLC grew its position in Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after acquiring an additional 1,336 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America increased their price objective on Allegro MicroSystems from $36.00 to $39.00 and gave the stock a “buy” rating in a report on Wednesday, January 21st. Evercore reissued an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Needham & Company LLC upped their target price on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. TD Cowen upped their target price on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned 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.

Allegro MicroSystems Company Profile

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.