Entropy Technologies LP Raises Position in Allegro MicroSystems, Inc. $ALGM

Key Points

• Entropy Technologies LP increased its Allegro MicroSystems position by 88.7% in the first quarter, bringing its holdings to 67,719 shares valued at approximately $2.14 million. Hedge funds and other institutional investors collectively own 56.45% of ALGM.
• Analyst sentiment remains favorable, with nine Buy ratings, two Holds and one Sell. Allegro has a “Moderate Buy” consensus rating and an average price target of $55.20, including Mizuho’s increase to $67.
• Allegro exceeded quarterly expectations, reporting $0.17 in EPS versus the $0.16 estimate and revenue of $243.19 million, up 26.1% year over year. The stock opened at $46.03, compared with a 52-week range of $22.41 to $71.77.

Entropy Technologies LP lifted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 88.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,719 shares of the company's stock after purchasing an additional 31,824 shares during the quarter. Entropy Technologies LP's holdings in Allegro MicroSystems were worth $2,135,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALGM. Bank of America Corp DE increased its position in Allegro MicroSystems by 136.6% during the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company's stock valued at $27,818,000 after buying an additional 3,556,410 shares in the last quarter. Invesco Ltd. boosted its holdings in Allegro MicroSystems by 44.0% in the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company's stock worth $201,835,000 after acquiring an additional 2,338,624 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in 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 in the last quarter. Norges Bank purchased a new stake in shares of Allegro MicroSystems during the fourth quarter worth about $38,457,000. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Allegro MicroSystems by 77.8% during 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 during the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Weiss Ratings restated a "sell (d-)" rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Wall Street Zen cut shares of Allegro MicroSystems from a "buy" rating to a "hold" rating in a research note on Saturday. Mizuho boosted their target price on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the stock an "outperform" rating in a research report on Monday, June 29th. UBS Group upped their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a "buy" rating in a research note on Friday, May 8th. Finally, Evercore reaffirmed an "outperform" rating and issued a $53.00 price target on shares of Allegro MicroSystems in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Allegro MicroSystems presently has a consensus rating of "Moderate Buy" and an average target price of $55.20.

Allegro MicroSystems Price Performance

NASDAQ:ALGM opened at $46.03 on Monday. The firm's fifty day moving average is $51.85 and its two-hundred day moving average is $42.24. The firm has a market cap of $8.58 billion, a price-to-earnings ratio of -511.39 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $71.77.

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

Insider Buying and Selling

In other Allegro MicroSystems news, CEO Michael Doogue sold 30,089 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the transaction, the chief executive officer directly owned 252,797 shares of the company's stock, valued at approximately $11,939,602.31. The trade was a 10.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard Madormo sold 5,000 shares of the company's stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 68,607 shares of company stock valued at $3,213,714 in the last three months. 0.50% of the stock is currently owned by company insiders.

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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