S Squared Technology LLC Acquires Shares of 332,451 Allegro MicroSystems, Inc. $ALGM

S Squared Technology LLC acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 332,451 shares of the company’s stock, valued at approximately $23,145,239,000. Allegro MicroSystems accounts for 7.2% of S Squared Technology LLC’s holdings, making the stock its 4th largest holding.

A number of other hedge funds and other institutional investors also recently modified their holdings of ALGM. Rakuten Securities Inc. bought a new stake in shares of Allegro MicroSystems in the second quarter valued at about $31,000. Parallel Advisors LLC increased its position in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares during the period. Harbor Investment Advisory LLC acquired a new stake in Allegro MicroSystems in the 2nd quarter worth about $72,000. Kestra Advisory Services LLC acquired a new stake in Allegro MicroSystems in the 4th quarter worth about $34,000. Finally, Quantbot Technologies LP bought a new stake in Allegro MicroSystems in the 2nd quarter valued at about $89,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Erin Hagen sold 2,285 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Richard Madormo sold 5,000 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the sale, the senior vice president owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. This represents a 6.69% 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 insiders.

Allegro MicroSystems Stock Performance

Shares of NASDAQ:ALGM opened at $35.63 on Tuesday. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77. The stock has a market capitalization of $6.64 billion, a price-to-earnings ratio of 593.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.94. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33. The company’s 50 day simple moving average is $49.27 and its 200 day simple moving average is $43.47.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping 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 company’s quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, research analysts predict that Allegro MicroSystems, Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALGM. Mizuho decreased their target price on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a research report on Friday, July 31st. Benchmark initiated coverage on shares of Allegro MicroSystems in a research report on Wednesday, August 12th. They issued a “buy” rating and a $60.00 price target for the company. TD Cowen cut their price target on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target on the stock. in a research report on Monday, July 20th. Finally, Morgan Stanley raised 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. 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus 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.