44,000 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Canada Pension Plan Investment Board

Key Points

• Canada Pension Plan Investment Board acquired 44,000 Allegro MicroSystems shares worth approximately $3.1 million in the second quarter. Institutional investors collectively own 56.45% of the company.
• Allegro reported quarterly earnings of $0.23 per share, exceeding estimates of $0.21, while revenue rose 27.5% year over year to $259.24 million. The company guided for fiscal 2027 second-quarter EPS of $0.23–$0.26.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $53.45 target price, although two senior vice presidents recently sold shares and insiders own just 0.50% of the stock.

Canada Pension Plan Investment Board acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The fund acquired 44,000 shares of the company's stock, valued at approximately $3,063,000.

Several other institutional investors have also added to or reduced their stakes in ALGM. State of Wyoming bought a new stake in shares of Allegro MicroSystems in the second quarter valued at approximately $2,247,000. Nippon Life Global Investors Americas Inc. bought a new position in Allegro MicroSystems in the 2nd quarter worth approximately $10,016,000. Norges Bank bought a new position in Allegro MicroSystems in the 4th quarter worth approximately $38,457,000. Bank of America Corp DE boosted its holdings in Allegro MicroSystems by 48.3% in the 1st quarter. Bank of America Corp DE now owns 855,453 shares of the company's stock worth $26,972,000 after buying an additional 278,798 shares during the period. Finally, Maverick Capital Ltd. purchased a new position in Allegro MicroSystems in the 1st quarter valued at approximately $1,331,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, SVP Richard Madormo sold 5,000 shares of the 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 in the company, valued at approximately $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Erin Hagen sold 2,285 shares of Allegro MicroSystems stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total value of $101,431.15. Following the sale, the senior vice president directly owned 31,052 shares of the company's stock, valued at $1,378,398.28. This represents a 6.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.50% of the company's stock.

Allegro MicroSystems Stock Performance

Allegro MicroSystems stock opened at $35.77 on Monday. The firm's 50 day simple moving average is $47.71 and its 200 day simple moving average is $43.38. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.67 billion, a PE ratio of 596.27, a price-to-earnings-growth ratio of 1.13 and a beta of 1.94. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced 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. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The firm had revenue of $259.24 million during the quarter, compared to the consensus estimate of $251.44 million. During the same period last year, the firm earned $0.09 EPS. The business's quarterly revenue was up 27.5% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, analysts expect that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Jefferies Financial Group restated a "buy" rating and set a $62.00 target price on shares of Allegro MicroSystems in a research report on Thursday, May 7th. TD Cowen reduced their price target on Allegro MicroSystems from $66.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Benchmark assumed coverage on Allegro MicroSystems in a research note on Wednesday, August 12th. They set a "buy" rating and a $60.00 price objective on the stock. Evercore reissued an "outperform" rating and set a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, Barclays downgraded Allegro MicroSystems from an "overweight" rating to an "equal weight" rating and set a $48.00 target price for the company. in a research note on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Allegro MicroSystems presently has an average rating of "Moderate Buy" and a consensus target price of $53.45.

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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