36,000 Shares in Allegro MicroSystems, Inc. $ALGM Bought by Louisiana State Employees Retirement System

Key Points

• Louisiana State Employees Retirement System disclosed a new first-quarter stake in Allegro MicroSystems, buying 36,000 shares worth about $1.135 million.
• Institutional ownership remains significant, with several large investors increasing positions; the company’s stock is now 56.45% institutionally owned.
• Analysts are broadly positive on ALGM, with multiple firms raising price targets and a consensus rating of Moderate Buy at an average target price of $55.60.

Louisiana State Employees Retirement System purchased a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 36,000 shares of the company's stock, valued at approximately $1,135,000.

Several other institutional investors have also bought and sold shares of ALGM. Bank of America Corp DE increased its holdings in shares of Allegro MicroSystems by 136.6% in the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company's stock worth $27,818,000 after buying an additional 3,556,410 shares during the last quarter. Invesco Ltd. raised its position in shares of Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company's stock valued at $201,835,000 after buying an additional 2,338,624 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Allegro MicroSystems by 189.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company's stock valued at $94,360,000 after acquiring an additional 1,806,183 shares during the last quarter. Norges Bank bought a new position in shares of Allegro MicroSystems in the 4th quarter valued at about $38,457,000. Finally, Adage Capital Partners GP L.L.C. grew its position in Allegro MicroSystems by 77.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company's stock worth $73,968,000 after acquiring an additional 1,227,317 shares in the last quarter. Institutional investors own 56.45% of the company's stock.

Insider Activity

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total value of $234,138.96. Following the sale, the chief accounting officer owned 13,106 shares in the company, valued at $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems 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 trade represents a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 68,607 shares of company stock worth $3,213,714 in the last three months. Corporate insiders own 0.50% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ALGM. UBS Group boosted their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a "buy" rating in a research note on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Needham & Company LLC lifted their target price on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. TD Cowen boosted their target price on Allegro MicroSystems from $55.00 to $70.00 and gave the company a "buy" rating in a research report on Monday, June 22nd. Finally, Jefferies Financial Group restated a "buy" rating and set a $62.00 price target on shares of Allegro MicroSystems in a report on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.60.

Allegro MicroSystems Stock Performance

Shares of NASDAQ:ALGM opened at $55.49 on Friday. The company has a current ratio of 3.45, a quick ratio of 2.21 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. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of -616.49 and a beta of 1.90. The firm's 50-day moving average is $50.46 and its 200 day moving average is $39.61.

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

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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