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Allegro MicroSystems Inc. (ALGM) – Don’t Believe the Hype: Check The Facts

155 institutions hold shares in Allegro MicroSystems Inc. (ALGM), with 105.04M shares held by insiders accounting for 55.45% while institutional investors hold 92.90% of the company’s shares. The shares outstanding are 124.36M, and float is at 84.40M with Short Float at 3.16%. Institutions hold 41.39% of the Float.

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The top institutional shareholder in the company is OEP Capital Advisors, LP with over 44.44 million shares valued at $1.18 billion. The investor’s holdings represent 23.46% of the ALGM Shares outstanding. As of Dec 30, 2020, the second largest holder is Vanguard Group, Inc. (The) with 2.29 million shares valued at $61.08 million to account for 1.21% of the shares outstanding. The other top investors are Blackrock Inc. which holds 2.14 million shares representing 1.13% and valued at over $57.17 million, while JP Morgan Chase & Company holds 0.98% of the shares totaling 1.85 million with a market value of $49.34 million.

Allegro MicroSystems Inc. (NASDAQ: ALGM) is -3.04% lower on its value in year-to-date trading and has touched a low of $16.78 and a high of $34.66 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The ALGM stock was last observed hovering at around $26.59 in the last trading session, with the day’s loss setting it -0.74% off its average median price target of $36.00 for the next 12 months. It is also 31.97% off the consensus price target high of $38.00 offered by 7 analysts, but current levels are 26.14% higher than the price target low of $35.00 for the same period.

Currently trading at $25.85, the stock is -2.72% and -3.38% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.07 million and changing -2.78% at the moment leaves the stock -3.34% off its SMA200. The firm has a 50-day simple moving average (SMA 50) of $26.78 and a 200-day simple moving average (SMA200) of $26.75.

The stock witnessed a 4.74% In the last 1 month and extending the period to 3 months gives it a -11.93%, and is -0.92% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.10% over the week and 4.40% over the month.

Allegro MicroSystems Inc. (ALGM) has around 3720 employees, a market worth around $4.70B and $590.70M in sales. Fwd P/E is 42.24. Distance from 52-week low is 54.05% and -25.42% from its 52-week high. The company has generated returns on investments over the last 12 months (5.10%).

Allegro MicroSystems Inc. (ALGM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for Allegro MicroSystems Inc. (ALGM) is a “Buy”. 7 analysts offering their recommendations for the stock have an average rating of 1.90, where 0 rate it as a Hold and 0 think it is a “Overweight”. 7 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

Allegro MicroSystems Inc. is expected to release its quarterly report on 09/01/2021 and quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $167.03M over the same period.The EPS is expected to shrink by -56.40% this year.

Allegro MicroSystems Inc. (ALGM) Insider Activity

A total of 30 insider transactions have happened at Allegro MicroSystems Inc. (ALGM) in the last six months, with sales accounting for 17 and purchases happening 13 times. The most recent transaction is an insider sale by Teebagy Thomas C. Jr., the company’s SVP of Operations and Quality. SEC filings show that Teebagy Thomas C. Jr. sold 56,670 shares of the company’s common stock on Apr 27 at a price of $26.85 per share for a total of $1.52 million. Following the sale, the insider now owns 0.43 million shares.

Allegro MicroSystems Inc. disclosed in a document filed with the SEC on Apr 26 that Teebagy Thomas C. Jr. (SVP of Operations and Quality) sold a total of 93,576 shares of the company’s common stock. The trade occurred on Apr 26 and was made at $26.90 per share for $2.52 million. Following the transaction, the insider now directly holds 0.48 million shares of the ALGM stock.

Still, SEC filings show that on Mar 08, OEP SKNA, L.P. (10% Owner) disposed off 1,832,852 shares at an average price of $29.16 for $53.45 million. The insider now directly holds 31,254,247 shares of Allegro MicroSystems Inc. (ALGM).

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