SG Americas Securities LLC Lowers Stake in Allegro MicroSystems, Inc. $ALGM

SG Americas Securities LLC cut its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 64.5% during the first quarter, HoldingsChannel reports. The firm owned 5,245 shares of the company’s stock after selling 9,509 shares during the period. SG Americas Securities LLC’s holdings in Allegro MicroSystems were worth $165,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ALGM. Vanguard Personalized Indexing Management LLC increased its stake in Allegro MicroSystems by 3.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock worth $376,000 after buying an additional 419 shares during the period. Caitong International Asset Management Co. Ltd boosted its position in Allegro MicroSystems by 85.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after buying an additional 669 shares during the period. Bank of Montreal Can grew its stake in Allegro MicroSystems by 5.8% in the 4th quarter. Bank of Montreal Can now owns 14,075 shares of the company’s stock worth $371,000 after acquiring an additional 770 shares in the last quarter. Alps Advisors Inc. increased its position in shares of Allegro MicroSystems by 2.8% during the fourth quarter. Alps Advisors Inc. now owns 29,789 shares of the company’s stock worth $786,000 after acquiring an additional 806 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Allegro MicroSystems by 5.5% during the fourth quarter. Advisors Asset Management Inc. now owns 23,744 shares of the company’s stock worth $626,000 after acquiring an additional 1,245 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

NASDAQ:ALGM opened at $54.87 on Monday. The firm has a 50-day simple moving average of $51.57 and a 200-day simple moving average of $40.69. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $71.77. The firm has a market cap of $10.22 billion, a P/E ratio of -609.60 and a beta of 1.90. 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 (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.01. The firm had revenue of $243.19 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $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 0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the sale, the chief accounting officer owned 13,106 shares of the company’s stock, valued at $588,197.28. This trade represents a 28.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Doogue sold 30,089 shares of Allegro MicroSystems stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 252,797 shares in the company, valued at $11,939,602.31. This trade represents a 10.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 68,607 shares of company stock worth $3,213,714. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

ALGM has been the subject of a number of research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $62.00 price target on shares of Allegro MicroSystems in a report on Thursday, May 7th. Wells Fargo & Company raised their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Needham & Company LLC lifted their target price on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, June 21st. Finally, Barclays increased their price target on Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research report 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.60.

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.