Public Employees Retirement System of Ohio Purchases Shares of 36,089 Allegro MicroSystems, Inc. $ALGM

Public Employees Retirement System of Ohio acquired a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 36,089 shares of the company’s stock, valued at approximately $2,513,000.

A number of other large investors have also added to or reduced their stakes in ALGM. State of Wyoming purchased a new stake in Allegro MicroSystems during the second quarter valued at $2,247,000. Norges Bank purchased a new position in shares of Allegro MicroSystems in the 4th quarter worth $38,457,000. Nippon Life Global Investors Americas Inc. bought a new stake in shares of Allegro MicroSystems in the 2nd quarter worth about $10,016,000. Bank of America Corp DE increased its holdings in shares of Allegro MicroSystems by 48.3% in the 1st quarter. Bank of America Corp DE now owns 855,453 shares of the company’s stock worth $26,972,000 after buying an additional 278,798 shares during the last quarter. Finally, Maverick Capital Ltd. purchased a new stake in shares of Allegro MicroSystems during the 1st quarter valued at about $1,331,000. Institutional investors own 56.45% of the company’s stock.

Insider Activity

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

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $36.61 on Friday. The firm has a 50-day moving average price of $45.49 and a 200-day moving average price of $43.15. The firm has a market capitalization of $6.82 billion, a PE ratio of 610.27, a price-to-earnings-growth ratio of 1.15 and a beta of 1.91. 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.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $251.44 million. During the same period in the prior year, the firm posted $0.09 EPS. The firm’s 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. As a group, equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Wall Street Analyst Weigh In

ALGM has been the subject of a number of analyst reports. Mizuho lowered their price target on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Morgan Stanley boosted their price objective on Allegro MicroSystems from $51.00 to $52.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. Benchmark began coverage on Allegro MicroSystems in a research report on Wednesday, August 12th. They set a “buy” rating and a $60.00 price objective on the stock. Needham & Company LLC raised their price objective on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 30th. Finally, Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a research note on Monday, July 20th. One research 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 given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $53.45.

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.