Rockefeller Capital Management L.P. Raises Position in Allegro MicroSystems, Inc. $ALGM

Rockefeller Capital Management L.P. raised its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 470.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,876 shares of the company’s stock after buying an additional 13,918 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Allegro MicroSystems were worth $445,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in shares of Allegro MicroSystems by 5.8% in the 3rd quarter. Capital Research Global Investors now owns 16,824,722 shares of the company’s stock valued at $491,282,000 after acquiring an additional 920,365 shares in the last quarter. Invesco Ltd. increased its position in shares of Allegro MicroSystems by 44.0% in the fourth quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after purchasing an additional 2,338,624 shares during the last quarter. State Street Corp increased its position in shares of Allegro MicroSystems by 1.5% in the fourth quarter. State Street Corp now owns 5,359,488 shares of the company’s stock worth $141,383,000 after purchasing an additional 78,203 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Allegro MicroSystems by 77.8% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock valued at $73,968,000 after purchasing an additional 1,227,317 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock valued at $94,360,000 after purchasing an additional 1,806,183 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors.

Insider Activity at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Ian Kent sold 2,642 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $41.56, for a total transaction of $109,801.52. Following the completion of the sale, the senior vice president owned 25,392 shares of the company’s stock, valued at $1,055,291.52. This represents a 9.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm’s stock in a transaction 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 completion of the sale, the senior vice president directly owned 69,687 shares in the company, valued at approximately $3,673,898.64. This trade represents a 6.69% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 68,607 shares of company stock worth $3,213,714 over the last ninety days. Insiders own 0.50% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $55.49 on Monday. The business has a 50-day moving average of $50.46 and a 200 day moving average of $39.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77. The stock has a market capitalization of $10.34 billion, a PE ratio of -616.49 and a beta of 1.90.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The firm had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The business’s revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALGM shares. Barclays boosted their price target on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Jefferies Financial Group reaffirmed a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Wells Fargo & Company increased their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Finally, UBS Group raised their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” 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’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.60.

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.