Capital Research Global Investors Reduces Position in Allegro MicroSystems, Inc. $ALGM

Capital Research Global Investors cut its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 22.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,111,292 shares of the company’s stock after selling 3,713,430 shares during the period. Capital Research Global Investors owned approximately 7.08% of Allegro MicroSystems worth $345,876,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Hantz Financial Services Inc. boosted its position in shares of Allegro MicroSystems by 86.9% during the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after buying an additional 419 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after buying an additional 1,908 shares during the last quarter. SBI Securities Co. Ltd. boosted its position in shares of Allegro MicroSystems by 343.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 2,301 shares of the company’s stock valued at $61,000 after buying an additional 1,782 shares during the last quarter. NewEdge Advisors LLC boosted its position in shares of Allegro MicroSystems by 12,315.0% during the third quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after buying an additional 2,463 shares during the last quarter. Finally, Centaurus Financial Inc. purchased a new stake in shares of Allegro MicroSystems during the third quarter valued at $161,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ALGM. Needham & Company LLC increased their price objective on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Jefferies Financial Group reissued a “buy” rating and issued a $62.00 target price on shares of Allegro MicroSystems in a report on Thursday, May 7th. Morgan Stanley raised Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a report on Friday, February 13th. Evercore reissued an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, UBS Group increased their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and an average target price of $51.80.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $46.39 on Monday. The business’s 50 day moving average is $42.32 and its 200 day moving average is $35.56. The company has a market capitalization of $8.64 billion, a PE ratio of -515.39 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 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 earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million for 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%.The firm’s quarterly revenue was up 26.1% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. 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.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 5,217 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the completion of the transaction, the chief accounting officer owned 13,106 shares in the company, valued at $588,197.28. This trade represents a 28.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Sharon Briansky sold 8,948 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $47.54, for a total value of $425,387.92. Following the transaction, the senior vice president owned 75,232 shares of the company’s stock, valued at $3,576,529.28. This represents a 10.63% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 68,607 shares of company stock worth $3,213,714 over the last three months. 0.40% of the stock is owned by company insiders.

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.