17,210 Shares in Allegro MicroSystems, Inc. $ALGM Acquired by Csenge Advisory Group

Csenge Advisory Group acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 17,210 shares of the company’s stock, valued at approximately $1,198,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ALGM. BlackRock Inc. bought a new stake in shares of Allegro MicroSystems in the 2nd quarter worth about $966,975,000. Bank of America Corp DE lifted its holdings 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 purchasing an additional 3,556,410 shares during the last quarter. Invesco Ltd. lifted its holdings 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 purchasing an additional 2,338,624 shares during the last quarter. Alliancebernstein L.P. boosted its position in Allegro MicroSystems by 189.4% in the second 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. Finally, Norges Bank acquired a new position in Allegro MicroSystems in the fourth quarter valued at about $38,457,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Trading Down 2.6%

ALGM stock opened at $38.35 on Thursday. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The company has a market cap of $7.15 billion, a P/E ratio of 639.27, a PEG ratio of 1.24 and a beta of 1.94. The business has a fifty day moving average of $50.13 and a 200-day moving average of $43.49.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company had revenue of $259.24 million during the quarter, compared to analysts’ expectations of $251.44 million. During the same quarter in the previous year, the company earned $0.09 EPS. Allegro MicroSystems’s revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, equities research analysts expect that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on ALGM shares. TD Cowen dropped their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a report on Friday, July 31st. Needham & Company LLC boosted their target price on Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, July 30th. Morgan Stanley increased their price target on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research report on Friday, July 31st. Wells Fargo & Company raised their price target on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Mizuho cut their price objective on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.

Insider Activity at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the transaction, the senior vice president owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Erin Hagen sold 2,285 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares in the company, valued at $1,378,398.28. This represents a 6.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.50% of the stock is currently owned by corporate insiders.

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.