Erin Hagen Sells 2,285 Shares of Allegro MicroSystems (NASDAQ:ALGM) Stock

Key Points

• Allegro MicroSystems SVP Erin Hagen sold 2,285 shares at an average price of $44.39, generating $101,431.15; the sale reduced her direct holdings by 6.85% to 31,052 shares.
• The company reported quarterly EPS of $0.23, beating estimates by $0.02, while revenue rose 27.5% year over year to $259.24 million.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $52.80, compared with the stock’s recent price of $42.47.

Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) SVP Erin Hagen sold 2,285 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $44.39, for a total value 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. This represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Allegro MicroSystems Stock Performance

Shares of NASDAQ ALGM traded down $0.05 during trading on Wednesday, reaching $42.47. The stock had a trading volume of 1,088,111 shares, compared to its average volume of 2,609,295. 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 has a market cap of $7.92 billion, a PE ratio of 707.95, a P/E/G ratio of 1.34 and a beta of 1.94. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $71.77. The firm's 50 day moving average price is $50.92 and its two-hundred day moving average price is $43.15.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The firm had revenue of $259.24 million for the quarter, compared to analysts' expectations of $251.44 million. During the same period last year, the business posted $0.09 earnings per share. The firm's revenue for the quarter was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, research analysts forecast that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allegro MicroSystems

Several hedge funds and other institutional investors have recently modified their holdings of the company. Lecap Asset Management Ltd. acquired a new stake in Allegro MicroSystems in the 4th quarter valued at approximately $783,000. Norges Bank bought a new stake in Allegro MicroSystems during the 4th quarter valued at $38,457,000. Lightrock Netherlands B.V. acquired a new position in Allegro MicroSystems during the 4th quarter worth $9,349,000. Maverick Capital Ltd. acquired a new position in Allegro MicroSystems during the 1st quarter worth $1,331,000. Finally, Quantinno Capital Management LP grew its stake in shares of Allegro MicroSystems by 104.9% in the first quarter. Quantinno Capital Management LP now owns 133,902 shares of the company's stock worth $4,222,000 after purchasing an additional 68,549 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ALGM shares. Mizuho lowered their price objective on shares of Allegro MicroSystems from $67.00 to $58.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Needham & Company LLC raised their target price on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday, July 30th. Wall Street Zen upgraded Allegro MicroSystems from a "hold" rating to a "buy" rating in a research note on Sunday, August 2nd. Morgan Stanley upped their target price on Allegro MicroSystems from $51.00 to $52.00 and gave the company an "overweight" rating in a report on Friday, July 31st. Finally, TD Cowen dropped their price target 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. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $52.80.

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.

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