Legal & General Group Plc Invests $11.47 Million in Allegro MicroSystems, Inc. $ALGM

Legal & General Group Plc bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 164,734 shares of the company’s stock, valued at approximately $11,469,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALGM. State of Wyoming acquired a new position in shares of Allegro MicroSystems in the 2nd quarter valued at about $2,247,000. Nippon Life Global Investors Americas Inc. acquired a new stake in Allegro MicroSystems during the second quarter worth about $10,016,000. Norges Bank acquired a new stake in Allegro MicroSystems during the fourth quarter worth about $38,457,000. Bank of America Corp DE raised its position in Allegro MicroSystems by 48.3% during the first quarter. Bank of America Corp DE now owns 855,453 shares of the company’s stock valued at $26,972,000 after acquiring an additional 278,798 shares in the last quarter. Finally, Maverick Capital Ltd. acquired a new position in Allegro MicroSystems in the first quarter valued at approximately $1,331,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have commented on ALGM. TD Cowen lowered their price objective on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a report on Thursday, May 7th. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, August 3rd. Needham & Company LLC raised their price target on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Finally, Barclays cut shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a report on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $36.25 on Tuesday. The company has a current ratio of 3.70, a quick ratio of 2.33 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 $71.77. The business’s 50 day moving average is $47.21 and its two-hundred day moving average is $43.34. The company has a market capitalization of $6.76 billion, a P/E ratio of 604.27, a P/E/G ratio of 1.13 and a beta of 1.94.

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

Insiders Place Their Bets

In other Allegro MicroSystems news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president directly owned 69,687 shares of the company’s stock, valued at $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Erin Hagen sold 2,285 shares of the 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 transaction, the senior vice president directly owned 31,052 shares in the company, valued at approximately $1,378,398.28. The trade was 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 company insiders.

Allegro MicroSystems 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.