S Squared Technology LLC bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM – Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 332,451 shares of the company’s stock, valued at approximately $23,145,239. Allegro MicroSystems comprises 0.0% of S Squared Technology LLC’s holdings, making the stock its 4th biggest holding. S Squared Technology LLC owned approximately 0.18% of Allegro MicroSystems as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of ALGM. Rakuten Securities Inc. acquired a new stake in Allegro MicroSystems in the 2nd quarter valued at about $31,000. Parallel Advisors LLC increased its position in Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after buying an additional 302 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in Allegro MicroSystems in the fourth quarter worth $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 period. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Allegro MicroSystems by 85.8% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock valued at $38,000 after buying an additional 669 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.
Insider Activity at Allegro MicroSystems
In other news, SVP Richard Madormo sold 5,000 shares of the stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total transaction of $263,600.00. Following the transaction, the senior vice president owned 69,687 shares of the company’s stock, valued at approximately $3,673,898.64. This represents a 6.69% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total value of $101,431.15. Following the transaction, the senior vice president directly owned 31,052 shares in the company, valued at $1,378,398.28. This trade represents a 6.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.50% of the stock is currently owned by corporate insiders.
Allegro MicroSystems Stock Down 4.9%
Allegro MicroSystems (NASDAQ:ALGM – Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The business had revenue of $259.24 million for the quarter, compared to the consensus estimate of $251.44 million. During the same period in the previous year, the firm earned $0.09 EPS. The business’s revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.65 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have commented on the stock. Needham & Company LLC increased their price objective on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 30th. Jefferies Financial Group reiterated a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Mizuho dropped their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective for the company. in a report on Monday, July 20th. Finally, Evercore restated an “outperform” rating and issued a $53.00 price target on shares of Allegro MicroSystems in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $53.45.
View Our Latest Stock Analysis on ALGM
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.
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