Rockefeller Capital Management L.P. Buys 13,918 Shares of Allegro MicroSystems, Inc. $ALGM

Rockefeller Capital Management L.P. raised its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 470.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,876 shares of the company’s stock after purchasing an additional 13,918 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Allegro MicroSystems were worth $445,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada lifted its position in shares of Allegro MicroSystems by 70.0% in the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after purchasing an additional 48,554 shares during the period. AQR Capital Management LLC bought a new position in Allegro MicroSystems in the first quarter worth about $325,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Allegro MicroSystems by 31.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock worth $8,911,000 after buying an additional 85,607 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Allegro MicroSystems by 24.0% in the second quarter. Prudential Financial Inc. now owns 15,684 shares of the company’s stock worth $536,000 after buying an additional 3,040 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Allegro MicroSystems by 5.4% in the second quarter. First Trust Advisors LP now owns 576,478 shares of the company’s stock worth $19,710,000 after buying an additional 29,531 shares during the period. 56.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ALGM shares. Jefferies Financial Group reiterated a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a report on Thursday, May 7th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. UBS Group lifted their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Needham & Company LLC upped their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus price target of $55.60.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $55.49 on Monday. The firm has a market cap of $10.34 billion, a price-to-earnings ratio of -616.49 and a beta of 1.90. The stock has a fifty day simple moving average of $50.46 and a two-hundred day simple moving average of $39.70. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a current ratio of 3.45, a quick ratio of 2.21 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results 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 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%.Allegro MicroSystems’s revenue was up 26.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities analysts predict that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In related news, SVP Richard Madormo sold 5,000 shares of the 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 owned 69,687 shares in the company, 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 at the SEC website. Also, SVP Ian Kent sold 2,642 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $41.56, for a total transaction of $109,801.52. Following the completion of the sale, the senior vice president owned 25,392 shares in the company, valued at $1,055,291.52. This represents a 9.42% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 68,607 shares of company stock valued at $3,213,714. Company insiders own 0.50% of the company’s stock.

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.