Allegro MicroSystems (NASDAQ:ALGM) CEO Sells $1,421,103.47 in Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) CEO Michael Doogue sold 30,089 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the transaction, the chief executive officer owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. The trade was a 10.64% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Allegro MicroSystems Stock Up 0.2%

Shares of ALGM stock traded up $0.10 during mid-day trading on Wednesday, hitting $45.97. The stock had a trading volume of 2,103,443 shares, compared to its average volume of 2,449,078. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $51.40. The firm has a market capitalization of $8.52 billion, a P/E ratio of -510.72 and a beta of 2.02. The firm’s 50-day moving average is $37.06 and its two-hundred day moving average is $33.16. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ALGM. Bank of America Corp DE increased its position in Allegro MicroSystems by 136.6% during the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock valued at $27,818,000 after buying an additional 3,556,410 shares in the last quarter. Invesco Ltd. increased its position in Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after buying an additional 2,338,624 shares in the last quarter. Alliancebernstein L.P. increased its position in Allegro MicroSystems by 189.4% during 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 in the last quarter. Norges Bank acquired a new position in Allegro MicroSystems during the 4th quarter valued at about $38,457,000. Finally, Adage Capital Partners GP L.L.C. increased its position in 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 valued at $73,968,000 after buying an additional 1,227,317 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALGM. Jefferies Financial Group restated a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, January 18th. Wells Fargo & Company upped their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Finally, Bank of America upped their target price on Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $51.80.

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.