S Squared Technology LLC Purchases New Holdings in Allegro MicroSystems, Inc. $ALGM

Key Points

• S Squared Technology LLC acquired 332,451 shares of Allegro MicroSystems in the second quarter, giving it approximately 0.18% of the company and making ALGM its fourth-largest portfolio holding at 7.2%.
• Allegro reported quarterly EPS of $0.23 versus the $0.21 consensus estimate, while revenue rose 27.5% year over year to $259.24 million. Despite the earnings beat, the stock opened at $35.63, down 4.1%.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $53.45, although recent targets range from $48 to $55 and ratings have been mixed.

S Squared Technology LLC purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 332,451 shares of the company's stock, valued at approximately $23,145,239,000. Allegro MicroSystems makes up approximately 7.2% of S Squared Technology LLC's investment portfolio, making the stock its 4th biggest holding. S Squared Technology LLC owned approximately 0.18% of Allegro MicroSystems at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the stock. Whalen Wealth Management Inc. bought a new stake in shares of Allegro MicroSystems during the 2nd quarter worth approximately $445,000. Algert Global LLC boosted its holdings in shares of Allegro MicroSystems by 868.0% in the 2nd quarter. Algert Global LLC now owns 65,240 shares of the company's stock valued at $4,542,000 after buying an additional 58,500 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Allegro MicroSystems in the second quarter valued at $327,000. Meiji Yasuda Asset Management Co Ltd. acquired a new position in Allegro MicroSystems during the second quarter worth $200,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in Allegro MicroSystems during the second quarter worth $441,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Insider Activity

In other news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the transaction, the senior vice president directly 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 can be accessed through this link. Also, SVP Erin Hagen sold 2,285 shares of the firm's stock in a transaction dated Monday, August 10th. The stock was 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 of the company's stock, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their position. The SEC filing for this sale provides additional information. 0.50% of the stock is owned by corporate insiders.

Allegro MicroSystems Stock Down 4.1%

ALGM stock opened at $35.63 on Tuesday. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77. The business's 50 day simple moving average is $49.27 and its 200 day simple moving average is $43.47. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $6.64 billion, a PE ratio of 593.93, a PEG ratio of 1.17 and a beta of 1.94.

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. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The business had revenue of $259.24 million during the quarter, compared to the consensus estimate of $251.44 million. During the same quarter last year, the firm posted $0.09 EPS. The company's quarterly revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on ALGM. Morgan Stanley upped their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the stock an "overweight" rating in a research report on Friday, July 31st. TD Cowen decreased their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a "buy" rating for the company in a research report on Friday, July 31st. Weiss Ratings upgraded shares of Allegro MicroSystems from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Monday, August 3rd. Barclays cut shares of Allegro MicroSystems from an "overweight" rating to an "equal weight" rating and set a $48.00 target price on the stock. in a report on Monday, July 20th. Finally, UBS Group raised their target price 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. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Allegro MicroSystems currently has a consensus rating of "Moderate Buy" and a consensus target price of $53.45.

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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