Hel Ved Capital Management Ltd Acquires Shares of 62,850 Allegro MicroSystems, Inc. $ALGM

Key Points

• Hel Ved Capital Management disclosed a new fourth-quarter stake in Allegro MicroSystems, buying 62,850 shares valued at about $1.66 million.
• Several analysts remain bullish on ALGM, with recent target hikes from UBS, Wells Fargo and others; the stock has a consensus rating of Moderate Buy and a consensus price target of $51.80.
• Allegro MicroSystems posted a solid quarter, with EPS of $0.17 and revenue up 26.1% year over year to $243.19 million, while the stock traded around $50.40, near its 52-week high.

Hel Ved Capital Management Ltd purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 62,850 shares of the company's stock, valued at approximately $1,658,000.

Other institutional investors have also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its holdings in shares of Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company's stock valued at $26,000 after acquiring an additional 419 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Allegro MicroSystems by 14,844.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company's stock valued at $35,000 after acquiring an additional 1,336 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 815.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company's stock valued at $57,000 after acquiring an additional 1,908 shares during the last quarter. Federation des caisses Desjardins du Quebec bought a new position in shares of Allegro MicroSystems in the 4th quarter valued at about $57,000. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of Allegro MicroSystems by 343.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 2,301 shares of the company's stock valued at $61,000 after acquiring an additional 1,782 shares during the last quarter. Institutional investors own 56.45% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on ALGM shares. UBS Group increased their price target on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a "buy" rating in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a "buy" rating and issued a $62.00 price target on shares of Allegro MicroSystems in a report on Thursday, May 7th. Evercore reaffirmed an "outperform" rating and issued a $53.00 price target on shares of Allegro MicroSystems in a report on Friday, May 8th. Wells Fargo & Company increased their price target on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an "overweight" rating in a 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 research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $51.80.

Insider Buying and Selling at Allegro MicroSystems

In other news, SVP Richard Madormo sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Roald Graham Webster sold 5,217 shares of the firm's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the transaction, the chief accounting officer directly owned 13,106 shares in the company, valued at approximately $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.40% of the stock is owned by corporate insiders.

Allegro MicroSystems Trading Up 5.1%

Shares of NASDAQ ALGM opened at $50.40 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. The business's 50 day moving average price is $43.99 and its 200-day moving average price is $36.32. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $54.40. The company has a market cap 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 issued its quarterly earnings results on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The firm had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. During the same period in the prior year, the business posted $0.06 earnings per share. The company's revenue for the quarter was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, sell-side analysts expect that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current year.

Allegro MicroSystems Company 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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