Pacer Advisors Inc. Sells 12,569 Shares of Allegro MicroSystems, Inc. $ALGM

Pacer Advisors Inc. reduced its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 38.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 19,744 shares of the company’s stock after selling 12,569 shares during the period. Pacer Advisors Inc.’s holdings in Allegro MicroSystems were worth $623,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of ALGM. Lecap Asset Management Ltd. bought a new stake in Allegro MicroSystems in the fourth quarter valued at approximately $783,000. Norges Bank bought a new position in shares of Allegro MicroSystems during the 4th quarter worth approximately $38,457,000. Lightrock Netherlands B.V. bought a new position in shares of Allegro MicroSystems during the 4th quarter worth approximately $9,349,000. Maverick Capital Ltd. acquired a new position in shares of Allegro MicroSystems during the 1st quarter worth approximately $1,331,000. Finally, Altfest L J & Co. Inc. acquired a new position in shares of Allegro MicroSystems during the 4th quarter worth approximately $430,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALGM has been the subject of a number of research reports. Jefferies Financial Group restated a “buy” rating and set a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Weiss Ratings upgraded shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research note on Monday, August 3rd. Morgan Stanley increased their price target on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, July 31st. TD Cowen cut their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Evercore restated an “outperform” rating and set a $53.00 price objective on shares of Allegro MicroSystems in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.80.

Insider Buying and Selling

In related news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the sale, the senior vice president owned 69,687 shares of the company’s stock, valued at $3,673,898.64. This represents a 6.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total value of $234,138.96. Following the transaction, the chief accounting officer owned 13,106 shares in the company, valued at approximately $588,197.28. This trade represents a 28.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 29,570 shares of company stock worth $1,367,223. 0.50% of the stock is owned by corporate insiders.

Allegro MicroSystems Price Performance

Shares of Allegro MicroSystems stock opened at $42.46 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $7.91 billion, a price-to-earnings ratio of 707.78, a price-to-earnings-growth ratio of 1.38 and a beta of 1.94. Allegro MicroSystems, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The company has a 50-day simple moving average of $51.08 and a two-hundred day simple moving average of $43.09.

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

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.