19,406 Shares in Allegro MicroSystems, Inc. $ALGM Bought by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 19,406 shares of the company’s stock, valued at approximately $1,351,000.

Several other institutional investors have also added to or reduced their stakes in ALGM. Rakuten Securities Inc. acquired a new stake in Allegro MicroSystems in the 2nd quarter valued at $31,000. Parallel Advisors LLC lifted its position in shares of Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after buying an additional 302 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Allegro MicroSystems during the fourth quarter worth $34,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Allegro MicroSystems by 14,844.4% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after buying an additional 1,336 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its position in shares of Allegro MicroSystems by 85.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after purchasing an additional 669 shares during the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Stock Up 3.0%

ALGM opened at $36.61 on Friday. The firm has a market capitalization of $6.82 billion, a P/E ratio of 610.27, a PEG ratio of 1.12 and a beta of 1.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.70 and a quick ratio of 2.33. The company’s 50-day moving average is $45.49 and its 200 day moving average is $43.15. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 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 the consensus estimate of $251.44 million. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.Allegro MicroSystems’s revenue was up 27.5% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Research analysts expect that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALGM shares. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, August 2nd. Evercore reiterated an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a research report on Friday, May 8th. 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. Mizuho cut their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Finally, Morgan Stanley upped their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.45.

Insider Buying and Selling at Allegro MicroSystems

In other 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 transaction of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares in the company, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.