57,329 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 57,329 shares of the company’s stock, valued at approximately $3,991,000.

Other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Allegro MicroSystems during the 2nd quarter worth about $966,975,000. Bank of America Corp DE boosted its holdings in shares of Allegro MicroSystems by 136.6% in the third quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock valued at $27,818,000 after acquiring an additional 3,556,410 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Allegro MicroSystems by 44.0% in the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock valued at $201,835,000 after acquiring an additional 2,338,624 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Allegro MicroSystems by 189.4% during the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after acquiring an additional 1,806,183 shares during the period. Finally, Norges Bank acquired a new position in shares of Allegro MicroSystems during the fourth quarter valued at approximately $38,457,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Benchmark initiated coverage on Allegro MicroSystems in a report on Wednesday, August 12th. They set a “buy” rating and a $60.00 target price on the stock. Needham & Company LLC lifted their price target on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a research note on Monday, July 20th. UBS Group upped their price objective on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $53.45.

Insiders Place Their Bets

In related news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $44.39, for a total transaction of $101,431.15. Following the transaction, the senior vice president directly owned 31,052 shares of the company’s stock, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.50% of the company’s stock.

Allegro MicroSystems Trading Down 2.2%

NASDAQ ALGM opened at $35.47 on Wednesday. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 591.27, a PEG ratio of 1.14 and a beta of 1.91. The firm’s 50 day moving average price is $46.81 and its two-hundred day moving average price is $43.29.

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

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.