Richard Madormo Sells 5,000 Shares of Allegro MicroSystems (NASDAQ:ALGM) Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the sale, the senior vice president owned 69,687 shares in the company, valued at approximately $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Allegro MicroSystems Stock Down 13.5%

NASDAQ:ALGM opened at $46.39 on Friday. The firm’s 50 day simple moving average is $42.32 and its 200 day simple moving average is $35.48. 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, Inc. has a one year low of $22.41 and a one year high of $54.40. The company has a market cap of $8.64 billion, a PE ratio of -515.39 and a beta of 1.98.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The business had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. During the same period last year, the company earned $0.06 EPS. The firm’s revenue was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ALGM. Hantz Financial Services Inc. lifted its position in shares of Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after purchasing an additional 419 shares during the period. Parallel Advisors LLC increased its stake in shares of Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Allegro MicroSystems during the 4th quarter valued at $34,000. CIBC Private Wealth Group LLC lifted its position in shares of Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after acquiring an additional 1,336 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its position in shares of Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after acquiring an additional 669 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGM has been the topic of several recent research reports. UBS Group lifted their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Mizuho boosted their price target on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and issued a $62.00 price target on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Finally, Morgan Stanley upgraded shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price target on the stock in a research report on Friday, February 13th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price 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.