Castleark Management LLC Acquires Shares of 147,420 Allegro MicroSystems, Inc. $ALGM

Castleark Management LLC acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the first quarter, according to its most recent disclosure with the SEC. The firm acquired 147,420 shares of the company’s stock, valued at approximately $4,648,000. Castleark Management LLC owned 0.08% of Allegro MicroSystems at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Parallel Advisors LLC raised its position in Allegro MicroSystems by 42.8% during the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after buying an additional 302 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Allegro MicroSystems during the fourth quarter worth about $34,000. CIBC Private Wealth Group LLC raised its holdings in Allegro MicroSystems by 14,844.4% during 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 in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Allegro MicroSystems by 815.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after purchasing an additional 1,908 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALGM. Wall Street Zen downgraded Allegro MicroSystems from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings restated a “sell (d-)” rating on shares of Allegro MicroSystems in a research note on Wednesday, May 6th. Barclays lowered Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price objective on the stock. in a report on Monday, July 20th. Evercore restated an “outperform” rating and set a $53.00 target price on shares of Allegro MicroSystems in a research report on Friday, May 8th. Finally, Needham & Company LLC upped their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Nine analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.20.

Allegro MicroSystems Trading Up 1.7%

Shares of ALGM stock opened at $46.80 on Tuesday. The company has a market capitalization of $8.72 billion, a price-to-earnings ratio of -519.94 and a beta of 1.90. 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, Inc. has a twelve month low of $22.41 and a twelve month high of $71.77. The firm has a 50-day moving average price of $51.96 and a 200 day moving average price of $42.34.

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

Insider Buying and Selling

In related news, CEO Michael Doogue sold 30,089 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $47.23, for a total transaction of $1,421,103.47. Following the completion of the transaction, the chief executive officer owned 252,797 shares of the company’s stock, valued at approximately $11,939,602.31. This represents a 10.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Roald Graham Webster sold 5,217 shares of the 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 transaction, the chief accounting officer directly owned 13,106 shares in the company, valued at approximately $588,197.28. This represents a 28.47% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 68,607 shares of company stock worth $3,213,714 over the last ninety days. Insiders own 0.50% of the company’s stock.

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.