10,081 Shares in Allegro MicroSystems, Inc. $ALGM Bought by Vident Advisory LLC

Key Points

• Vident Advisory LLC acquired a new position in Allegro MicroSystems by purchasing 10,081 shares valued at approximately $253,000 during the first quarter.
• Institutional investors own 56.45% of Allegro MicroSystems, with notable increases in holdings from firms like Invesco Ltd. and Wellington Management Group.
• Analyst ratings for Allegro MicroSystems show a consensus of "Moderate Buy" with a target price average of $36.78, after recent upgrades and downgrades from multiple firms.

Vident Advisory LLC purchased a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,081 shares of the company's stock, valued at approximately $253,000.

Other institutional investors also recently bought and sold shares of the company. Invesco Ltd. lifted its position in shares of Allegro MicroSystems by 131.5% during the first quarter. Invesco Ltd. now owns 4,835,641 shares of the company's stock worth $121,520,000 after purchasing an additional 2,746,880 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Allegro MicroSystems by 30.5% during the fourth quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company's stock worth $87,302,000 after purchasing an additional 934,048 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Allegro MicroSystems by 6.4% during the first quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company's stock worth $60,717,000 after purchasing an additional 144,824 shares during the last quarter. Woodline Partners LP lifted its position in shares of Allegro MicroSystems by 18.4% during the fourth quarter. Woodline Partners LP now owns 1,833,705 shares of the company's stock worth $40,085,000 after purchasing an additional 285,573 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in shares of Allegro MicroSystems during the first quarter worth $41,610,000. 56.45% of the stock is currently owned by institutional investors.

Insider Transactions at Allegro MicroSystems

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

Analyst Upgrades and Downgrades

ALGM has been the subject of several research analyst reports. Zacks Research upgraded Allegro MicroSystems to a "hold" rating in a research report on Monday, August 11th. Morgan Stanley decreased their target price on Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Barclays lifted their target price on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Bank of America lowered their target price on Allegro MicroSystems from $45.00 to $38.00 and set a "buy" rating for the company in a report on Friday, September 5th. Finally, Mizuho raised their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Eight analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $36.78.

Allegro MicroSystems Price Performance

ALGM opened at $30.92 on Wednesday. The business's 50-day moving average is $32.92 and its two-hundred day moving average is $27.85. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $38.45. 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 PE ratio of -83.57 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The company had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm's quarterly revenue was up 21.9% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Research analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Allegro MicroSystems 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.

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