Peregrine Capital Management LLC Decreases Position in Allegro MicroSystems, Inc. $ALGM

Peregrine Capital Management LLC decreased its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 259,764 shares of the company’s stock after selling 11,124 shares during the period. Peregrine Capital Management LLC’s holdings in Allegro MicroSystems were worth $8,190,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of ALGM. Kestra Advisory Services LLC acquired a new position in Allegro MicroSystems during the 4th quarter worth $34,000. CIBC Private Wealth Group LLC raised its position in 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 purchasing an additional 1,336 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Allegro MicroSystems by 85.8% in the 4th 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. Farther Finance Advisors LLC boosted its stake 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 buying an additional 1,908 shares during the period. Finally, Federation des caisses Desjardins du Quebec acquired a new position in shares of Allegro MicroSystems during the fourth quarter worth about $57,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Insider Transactions at Allegro MicroSystems

In related news, SVP Richard Madormo sold 5,000 shares of the business’s 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 completion of the sale, the senior vice president directly owned 69,687 shares of the company’s stock, valued at $3,673,898.64. The trade was a 6.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Doogue sold 30,089 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the completion of the sale, the chief executive officer directly owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. This trade represents a 10.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 68,607 shares of company stock valued at $3,213,714 over the last quarter. 0.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, June 21st. Wells Fargo & Company boosted their price target on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Jefferies Financial Group restated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. 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 note on Monday. Finally, TD Cowen increased their target price on Allegro MicroSystems from $55.00 to $70.00 and gave the company a “buy” rating in a report on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.60.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $69.62 on Wednesday. The company has a market capitalization of $12.97 billion, a price-to-earnings ratio of -773.47 and a beta of 1.98. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $49.46 and a 200 day moving average price of $39.06.

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

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.