Louisiana State Employees Retirement System Takes $1.14 Million Position in Allegro MicroSystems, Inc. $ALGM

Louisiana State Employees Retirement System purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the first quarter, Holdings Channel reports. The firm purchased 36,000 shares of the company’s stock, valued at approximately $1,135,000.

A number of other large investors have also recently modified their holdings of ALGM. Kestra Advisory Services LLC purchased a new position in Allegro MicroSystems during the 4th quarter worth $34,000. CIBC Private Wealth Group LLC grew its position 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 in the last quarter. 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 buying an additional 669 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Allegro MicroSystems by 815.4% during the fourth 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 purchased a new position in shares of Allegro MicroSystems during the fourth quarter valued at $57,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

ALGM opened at $55.49 on Friday. 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 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, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The stock has a fifty day moving average price of $50.46 and a 200-day moving average price of $39.61.

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

Insider Buying and Selling at Allegro MicroSystems

In other news, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction that occurred on 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 transaction, the chief executive officer owned 252,797 shares of the company’s stock, valued at $11,939,602.31. The trade was a 10.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Ian Kent sold 2,642 shares of the business’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 transaction, the senior vice president owned 25,392 shares of the company’s stock, valued at approximately $1,055,291.52. This trade represents a 9.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALGM. TD Cowen upped their price objective on shares of Allegro MicroSystems from $55.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, June 22nd. Evercore reissued an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Barclays boosted their price target on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Ten equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.60.

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.