Traders Purchase High Volume of Put Options on Allegro MicroSystems (NASDAQ:ALGM)

Allegro MicroSystems, Inc. (NASDAQ:ALGM) was the recipient of some unusual options trading on Tuesday. Investors purchased 15,143 put options on the company. This represents an increase of approximately 1,402% compared to the average daily volume of 1,008 put options.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALGM. TD Cowen reduced their price objective on Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating for the company in a report on Friday, August 1st. Mizuho increased their price objective on Allegro MicroSystems from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Bank of America reduced their price objective on Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, September 5th. Wells Fargo & Company reissued an “overweight” rating and set a $42.00 price objective (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Finally, Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.78.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $30.92 on Wednesday. Allegro MicroSystems has a one year low of $16.38 and a one year high of $38.45. The business has a fifty day moving average price of $32.92 and a 200-day moving average price of $27.85. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. The firm has a market capitalization of $5.72 billion, a P/E ratio of -83.57 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The firm had revenue of $203.41 million during the quarter, compared to analyst estimates of $197.82 million. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the company earned $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, equities research analysts forecast that Allegro MicroSystems will post 0.01 EPS for the current year.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the transaction, the chief accounting officer owned 17,300 shares in the company, valued at $567,613. This represents a 32.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.40% of the stock is owned by company insiders.

Institutional Investors Weigh In On Allegro MicroSystems

Hedge funds have recently added to or reduced their stakes in the company. Newbridge Financial Services Group Inc. bought a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at about $171,000. Castleark Management LLC bought a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at about $3,527,000. Corient Private Wealth LLC lifted its stake in shares of Allegro MicroSystems by 27.2% in the 2nd quarter. Corient Private Wealth LLC now owns 17,239 shares of the company’s stock valued at $589,000 after acquiring an additional 3,685 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of Allegro MicroSystems by 17.3% in the 2nd quarter. Vident Advisory LLC now owns 11,823 shares of the company’s stock valued at $404,000 after acquiring an additional 1,742 shares during the last quarter. Finally, HRT Financial LP bought a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at about $4,473,000. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc, together with its subsidiaries, designs, develops, manufactures, and markets sensor integrated circuits (ICs) and application-specific analog power ICs for motion control and energy-efficient systems. Its products include magnetic sensor ICs, such as position, speed, and current sensor ICs; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.