Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Allegro MicroSystems, Inc. $ALGM

Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, HoldingsChannel reports. The fund bought 43,188 shares of the company’s stock, valued at approximately $3,007,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Parallel Advisors LLC raised its position in Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares in the last quarter. Harbor Investment Advisory LLC bought a new stake in shares of Allegro MicroSystems during the second quarter worth approximately $72,000. Kestra Advisory Services LLC bought a new stake in Allegro MicroSystems in the 4th quarter valued at $34,000. CIBC Private Wealth Group LLC grew its stake in shares of Allegro MicroSystems by 14,844.4% in the fourth 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 in the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Trading Down 0.1%

Shares of Allegro MicroSystems stock opened at $37.16 on Friday. The stock has a market capitalization of $6.93 billion, a PE ratio of 619.44, a price-to-earnings-growth ratio of 1.17 and a beta of 1.94. The stock has a 50 day moving average price of $49.65 and a two-hundred day moving average price of $43.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.02. The firm had revenue of $259.24 million for the quarter, compared to the consensus estimate of $251.44 million. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The business’s revenue was up 27.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGM has been the topic of several analyst reports. Evercore reissued an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. UBS Group upped their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Finally, TD Cowen dropped their price target on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $53.45.

Insider Buying and Selling at Allegro MicroSystems

In related news, SVP Erin Hagen sold 2,285 shares of the stock in a transaction on Monday, August 10th. The stock was sold at an average price of $44.39, for a total value of $101,431.15. Following the completion of the sale, the senior vice president directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 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 approximately $3,673,898.64. This represents a 6.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.50% of the company’s stock.

About Allegro MicroSystems

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.