S Squared Technology LLC Acquires 60,000 Shares of Allegro MicroSystems, Inc. $ALGM

Key Points

• S Squared Technology LLC increased its Allegro MicroSystems stake by 15.1% in the fourth quarter, buying 60,000 more shares and bringing its holdings to 457,451 shares worth about $12.1 million.
• Several analysts turned bullish on ALGM, with multiple firms raising price targets; the stock now carries a consensus rating of Moderate Buy and a consensus target price of $51.80.
• Allegro MicroSystems recently beat earnings estimates, reporting $0.17 EPS versus $0.16 expected and revenue of $243.19 million, up 26.1% year over year, while insiders also sold shares in recent months.

S Squared Technology LLC grew its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 15.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 457,451 shares of the company's stock after purchasing an additional 60,000 shares during the period. Allegro MicroSystems comprises 4.7% of S Squared Technology LLC's portfolio, making the stock its 9th largest holding. S Squared Technology LLC owned about 0.25% of Allegro MicroSystems worth $12,068,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ALGM. Bank of America Corp DE increased its holdings in shares of Allegro MicroSystems by 136.6% in the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company's stock valued at $27,818,000 after purchasing an additional 3,556,410 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Allegro MicroSystems by 189.4% in the 2nd quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company's stock valued at $94,360,000 after purchasing an additional 1,806,183 shares during the period. Norges Bank acquired a new position in shares of Allegro MicroSystems in the 4th quarter valued at about $38,457,000. Capital Research Global Investors increased its holdings in shares of Allegro MicroSystems by 5.8% in the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company's stock valued at $491,282,000 after purchasing an additional 920,365 shares during the period. Finally, Analog Century Management LP increased its holdings in shares of Allegro MicroSystems by 60.9% in the 4th quarter. Analog Century Management LP now owns 1,890,072 shares of the company's stock valued at $49,860,000 after purchasing an additional 715,119 shares during the period. Institutional investors and hedge funds own 56.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Evercore reiterated an "outperform" rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Needham & Company LLC upped their target price on Allegro MicroSystems from $45.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Barclays upped their target price on Allegro MicroSystems from $46.00 to $48.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Wells Fargo & Company increased their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. Finally, UBS Group increased their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Friday, May 8th. Ten investment 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 target price of $51.80.

Allegro MicroSystems Trading Down 0.0%

NASDAQ:ALGM opened at $50.40 on Monday. The stock's 50 day moving average price is $43.99 and its 200 day moving average price is $36.40. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $54.40. The company has a market capitalization of $9.39 billion, a P/E ratio of -559.94 and a beta of 1.98. 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 (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates 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 quarter in the prior year, the company posted $0.06 earnings per share. The firm's revenue 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, research analysts forecast that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, 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 transaction of $263,600.00. Following the completion of the sale, the senior vice president owned 69,687 shares of the company's stock, valued at $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Sharon Briansky sold 8,948 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.54, for a total value of $425,387.92. Following the sale, the senior vice president directly owned 75,232 shares of the company's stock, valued at $3,576,529.28. The trade was a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,607 shares of company stock valued at $3,213,714 in the last ninety days. 0.40% of the stock is currently owned by 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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