Fox Run Management L.L.C. Cuts Holdings in Allegro MicroSystems, Inc. $ALGM

Fox Run Management L.L.C. reduced its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 31.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,747 shares of the company’s stock after selling 14,843 shares during the quarter. Fox Run Management L.L.C.’s holdings in Allegro MicroSystems were worth $864,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after acquiring an additional 419 shares in the last quarter. Farther Finance Advisors LLC grew its stake 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. grew its stake 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% in the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after purchasing an additional 2,463 shares in the last quarter. Finally, Centaurus Financial Inc. purchased a new position in shares of Allegro MicroSystems in the 3rd quarter valued at about $161,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

ALGM has been the topic of a number of research analyst reports. Needham & Company LLC boosted their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Evercore restated an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. Mizuho upped their target price on shares of Allegro MicroSystems from $44.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Morgan Stanley upgraded 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 report on Friday, February 13th. Finally, UBS Group upped their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Allegro MicroSystems presently has an average rating of “Moderate Buy” and an average price target of $51.80.

Insider Transactions at Allegro MicroSystems

In related news, SVP Ian Kent sold 2,642 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $41.56, for a total value of $109,801.52. Following the sale, the senior vice president directly owned 25,392 shares of the company’s stock, valued at approximately $1,055,291.52. This represents a 9.42% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Richard Madormo sold 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total transaction of $263,600.00. Following the completion of the sale, the senior vice president directly owned 69,687 shares in the company, valued at approximately $3,673,898.64. The trade was a 6.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 68,607 shares of company stock worth $3,213,714 in the last 90 days. Insiders own 0.40% of the company’s stock.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM opened at $44.54 on Thursday. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of -494.83 and a beta of 1.98. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $54.40. The company’s 50-day moving average price is $43.32 and its 200 day moving average price is $36.06. 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 (NASDAQ:ALGM) last issued its quarterly earnings data 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 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 firm’s revenue was up 26.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, research analysts forecast that Allegro MicroSystems, Inc. will post 0.77 earnings per share 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.