SG Americas Securities LLC Sells 9,509 Shares of Allegro MicroSystems, Inc. $ALGM

SG Americas Securities LLC trimmed its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 64.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Kestra Advisory Services LLC bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at about $34,000. CIBC Private Wealth Group LLC increased its holdings in shares of Allegro MicroSystems by 14,844.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock worth $35,000 after purchasing an additional 1,336 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Allegro MicroSystems by 85.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after buying an additional 669 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Allegro MicroSystems by 815.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock worth $57,000 after buying an additional 1,908 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec bought a new position in Allegro MicroSystems during the fourth quarter valued at approximately $57,000. 56.45% of the stock is currently owned by institutional investors.

Insider Transactions at Allegro MicroSystems

In related news, SVP Ian Kent sold 2,642 shares of Allegro MicroSystems stock in a transaction dated 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 transaction, the senior vice president directly owned 25,392 shares of the company’s stock, valued at approximately $1,055,291.52. The trade was a 9.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Roald Graham Webster sold 5,217 shares of the company’s stock in a transaction dated 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 owned 13,106 shares in the company, valued at $588,197.28. The trade was a 28.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 68,607 shares of company stock worth $3,213,714. 0.50% of the stock is currently owned by insiders.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $54.87 on Monday. The company 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. The business’s 50 day moving average price is $51.57 and its 200-day moving average price is $40.69. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77.

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

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. UBS Group raised their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Barclays increased their target price on Allegro MicroSystems from $46.00 to $48.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Evercore reissued an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, June 21st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.60.

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.