Allegro MicroSystems, Inc. $ALGM Stake Increased by Analog Century Management LP

Analog Century Management LP grew its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 60.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,890,072 shares of the company's stock after purchasing an additional 715,119 shares during the period. Allegro MicroSystems makes up 2.5% of Analog Century Management LP's portfolio, making the stock its 22nd biggest position. Analog Century Management LP owned about 1.02% of Allegro MicroSystems worth $49,860,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Allegro MicroSystems by 136.6% in the third quarter. Bank of America Corp DE now owns 952,679 shares of the company's stock worth $27,818,000 after acquiring an additional 3,556,410 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company's stock worth $94,360,000 after acquiring an additional 1,806,183 shares during the last quarter. Norges Bank acquired a new position in shares of Allegro MicroSystems in the fourth quarter worth $38,457,000. Capital Research Global Investors increased its stake in shares of Allegro MicroSystems by 5.8% in the third quarter. Capital Research Global Investors now owns 16,824,722 shares of the company's stock worth $491,282,000 after acquiring an additional 920,365 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Allegro MicroSystems by 417.5% in the fourth quarter. Marshall Wace LLP now owns 714,579 shares of the company's stock worth $18,851,000 after acquiring an additional 576,493 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Stock Up 5.1%

ALGM stock opened at $50.40 on Friday. 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 52-week low of $22.41 and a 52-week high of $54.40. The company has a 50-day moving average of $43.99 and a two-hundred day moving average of $36.32. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of -559.94 and a beta of 1.98.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $243.19 million during the quarter, compared to analysts' expectations of $235.94 million. During the same period in the prior year, the company earned $0.06 earnings per share. The business's quarterly 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. As a group, equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Insider Activity at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the company's stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the sale, the chief accounting officer directly owned 13,106 shares in the company, valued at $588,197.28. This represents a 28.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Doogue sold 30,089 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the sale, the chief executive officer owned 252,797 shares of the company's stock, valued at $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALGM has been the topic of a number of research reports. Evercore reaffirmed an "outperform" rating and issued a $53.00 price target on shares of Allegro MicroSystems in a research note on Friday, May 8th. Wall Street Zen downgraded shares of Allegro MicroSystems from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group increased 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 increased their target price 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. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $51.80.

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.

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