Clearbridge Investments LLC Sells 16,021 Shares of Allegro MicroSystems, Inc. $ALGM

Clearbridge Investments LLC decreased its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,916,785 shares of the company’s stock after selling 16,021 shares during the quarter. Clearbridge Investments LLC owned 1.57% of Allegro MicroSystems worth $76,945,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hantz Financial Services Inc. increased its holdings in shares of Allegro MicroSystems by 86.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after purchasing an additional 419 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Allegro MicroSystems by 815.4% during the 4th quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after purchasing an additional 1,908 shares during the period. SBI Securities Co. Ltd. increased its holdings in shares of Allegro MicroSystems by 343.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 2,301 shares of the company’s stock worth $61,000 after purchasing an additional 1,782 shares during the period. NewEdge Advisors LLC increased its holdings in shares of Allegro MicroSystems by 12,315.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock worth $73,000 after purchasing an additional 2,463 shares during the period. Finally, Centaurus Financial Inc. bought a new position in shares of Allegro MicroSystems during the 3rd quarter worth about $161,000. Institutional investors own 56.45% of the company’s stock.

Insider Transactions at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 5,217 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total transaction of $234,138.96. Following the transaction, the chief accounting officer directly owned 13,106 shares in the company, valued at approximately $588,197.28. This 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 accessible through this link. Also, CEO Michael Doogue sold 30,089 shares of the company’s stock in a transaction that occurred on 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 owned 252,797 shares in the company, valued at $11,939,602.31. The trade was a 10.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 68,607 shares of company stock valued at $3,213,714. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Morgan Stanley raised shares of Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a research note on Friday, February 13th. UBS Group upped their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Wells Fargo & Company upped their target price 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. Finally, Evercore reissued an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $51.80.

Allegro MicroSystems Price Performance

NASDAQ:ALGM opened at $48.19 on Tuesday. The firm has a market cap of $8.97 billion, a PE ratio of -535.38 and a beta of 1.98. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $54.40. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The company’s 50-day moving average price is $42.66 and its two-hundred day moving average price is $35.74.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.17 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 analyst estimates 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 revenue for the quarter was up 26.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal 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.