Deutsche Bank AG acquired a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 88,759 shares of the company's stock, valued at approximately $6,179,000.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGM. Parallel Advisors LLC increased its position in shares of Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company's stock valued at $32,000 after purchasing an additional 302 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Allegro MicroSystems in the 4th quarter worth about $34,000. CIBC Private Wealth Group LLC grew its position in Allegro MicroSystems by 14,844.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company's stock valued at $35,000 after buying an additional 1,336 shares during the period. Caitong International Asset Management Co. Ltd grew its position in Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company's stock valued at $38,000 after buying an additional 669 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company's stock worth $57,000 after buying an additional 1,908 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.
Allegro MicroSystems Price Performance
Shares of Allegro MicroSystems stock opened at $35.63 on Tuesday. The company's fifty day simple moving average is $49.27 and its two-hundred day simple moving average is $43.47. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $71.77. The firm has a market cap of $6.64 billion, a PE ratio of 593.93, a price-to-earnings-growth ratio of 1.17 and a beta of 1.94. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. The company had revenue of $259.24 million for the quarter, compared to analysts' expectations of $251.44 million. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. Allegro MicroSystems's quarterly revenue was up 27.5% on a year-over-year basis. During the same quarter in the previous 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, equities analysts expect that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.
Insider Buying and Selling
In other news, SVP Erin Hagen sold 2,285 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the sale, the senior vice president owned 31,052 shares in the company, valued at $1,378,398.28. This represents a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard Madormo sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were 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 represents a 6.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.50% of the company's stock.
Analysts Set New Price Targets
ALGM has been the topic of a number of recent research reports. Wells Fargo & Company upped their price target on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Evercore reiterated an "outperform" rating and issued a $53.00 price objective on shares of Allegro MicroSystems in a research note on Friday, May 8th. Wall Street Zen raised shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a report on Sunday, August 2nd. Barclays downgraded Allegro MicroSystems from an "overweight" rating to an "equal weight" rating and set a $48.00 target price on the stock. in a research report on Monday, July 20th. Finally, Morgan Stanley lifted their price target on Allegro MicroSystems from $51.00 to $52.00 and gave the company an "overweight" rating in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems has a consensus rating of "Moderate Buy" and an average target price of $53.45.
View Our Latest Analysis on Allegro MicroSystems
About Allegro MicroSystems
(
Free Report)
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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