Michael Doogue Sells 30,089 Shares of Allegro MicroSystems (NASDAQ:ALGM) Stock

Allegro MicroSystems, Inc. (NASDAQ:ALGM) CEO Michael Doogue sold 30,089 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the transaction, the chief executive officer directly owned 252,797 shares in the company, valued at $11,939,602.31. The trade was a 10.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $44.97 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.21 and a current ratio of 3.45. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $51.40. The company’s 50-day simple moving average is $37.46 and its 200-day simple moving average is $33.36. The stock has a market capitalization of $8.33 billion, a price-to-earnings ratio of -499.61 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. The business had revenue of $243.19 million for the quarter, compared to analysts’ expectations of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The company’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.73 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Allegro MicroSystems

Large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after purchasing an additional 419 shares during the period. Quent Capital LLC acquired a new position in shares of Allegro MicroSystems during the third quarter valued at approximately $28,000. Parallel Advisors LLC increased its stake in shares of Allegro MicroSystems by 42.8% during the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after acquiring an additional 302 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Allegro MicroSystems during the fourth quarter valued at approximately $34,000. Finally, CIBC Private Wealth Group LLC increased its stake in shares of Allegro MicroSystems by 14,844.4% during 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 during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALGM shares. Needham & Company LLC increased their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Mizuho increased their price objective on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. TD Cowen increased their price objective on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Finally, Morgan Stanley upgraded shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research note on Friday, February 13th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.80.

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.