Entropy Technologies LP Boosts Stake in Allegro MicroSystems, Inc. $ALGM

Entropy Technologies LP increased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 88.7% during the first quarter, Holdings Channel.com reports. The fund owned 67,719 shares of the company’s stock after buying an additional 31,824 shares during the period. Entropy Technologies LP’s holdings in Allegro MicroSystems were worth $2,135,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Allegro MicroSystems by 136.6% in the 3rd quarter. Bank of America Corp DE now owns 952,679 shares of the company’s stock worth $27,818,000 after purchasing an additional 3,556,410 shares during the period. Invesco Ltd. boosted its position in Allegro MicroSystems by 44.0% during 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 in the last quarter. Alliancebernstein L.P. grew its holdings 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 during the period. Norges Bank acquired a new stake in Allegro MicroSystems in the fourth quarter valued at approximately $38,457,000. Finally, Adage Capital Partners GP L.L.C. increased its position in shares of 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 buying an additional 1,227,317 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Insider Transactions at Allegro MicroSystems

In related news, SVP Sharon Briansky sold 8,948 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.54, for a total transaction of $425,387.92. Following the transaction, the senior vice president directly owned 75,232 shares in the company, valued at approximately $3,576,529.28. The trade was a 10.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan D. Lynch sold 16,711 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $45.46, for a total transaction of $759,682.06. Following the sale, the director directly owned 12,805 shares of the company’s stock, valued at approximately $582,115.30. This represents a 56.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 68,607 shares of company stock valued at $3,213,714. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ALGM. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 target price for the company. in a research note on Monday, July 20th. Evercore reissued an “outperform” rating and issued a $53.00 price target on shares of Allegro MicroSystems in a report on Friday, May 8th. Needham & Company LLC upped their price objective on shares of Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Finally, UBS Group lifted their target price on shares of Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Nine equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.20.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $46.03 on Monday. The stock’s fifty day moving average is $51.85 and its two-hundred day moving average is $42.24. 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 firm has a market capitalization of $8.58 billion, a P/E ratio of -511.39 and a beta of 1.90. 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 released its 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. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The business had revenue of $243.19 million during the quarter, compared to analyst estimates of $235.94 million. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The company’s revenue for the quarter was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Research analysts expect that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal year.

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.