State of Wyoming Invests $2.25 Million in Allegro MicroSystems, Inc. $ALGM

State of Wyoming acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 32,269 shares of the company’s stock, valued at approximately $2,247,000.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Allegro MicroSystems by 70.0% during the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after purchasing an additional 48,554 shares in the last quarter. AQR Capital Management LLC bought a new stake in shares of Allegro MicroSystems in the first quarter valued at about $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Allegro MicroSystems by 31.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock worth $8,911,000 after buying an additional 85,607 shares during the period. Prudential Financial Inc. boosted its position in shares of Allegro MicroSystems by 24.0% during the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock worth $536,000 after buying an additional 3,040 shares during the period. Finally, First Trust Advisors LP grew its holdings in shares of Allegro MicroSystems by 5.4% during the second quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock worth $19,710,000 after buying an additional 29,531 shares in the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Price Performance

NASDAQ:ALGM opened at $44.39 on Friday. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77. The company has a market cap of $8.27 billion, a P/E ratio of 739.96, a P/E/G ratio of 1.40 and a beta of 1.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The stock’s 50-day simple moving average is $50.48 and its 200 day simple moving average is $43.29.

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. The firm 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 quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ALGM shares. Needham & Company LLC lifted their target price on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Mizuho decreased their price target on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Benchmark assumed coverage on shares of Allegro MicroSystems in a report on Wednesday. They issued a “buy” rating and a $60.00 price objective on the stock. Morgan Stanley lifted their price objective on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Barclays lowered shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a research report on Monday, July 20th. One 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 MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $53.45.

Insider Buying and Selling

In related news, 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Ian Kent sold 2,642 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $41.56, for a total transaction of $109,801.52. Following the sale, the senior vice president directly owned 25,392 shares in the company, valued at $1,055,291.52. This trade represents a 9.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 15,144 shares of company stock worth $708,972. 0.50% of the stock is currently owned by company 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.