Vident Advisory LLC Makes New Investment in Allegro MicroSystems, Inc. $ALGM

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 bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,081 shares of the company's stock, valued at approximately $253,000.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp grew its position in Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock worth $33,000 after purchasing an additional 504 shares during the last quarter. UMB Bank n.a. grew its position in Allegro MicroSystems by 68.6% during the 1st quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock worth $36,000 after purchasing an additional 578 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new stake in Allegro MicroSystems during the 1st quarter worth approximately $71,000. Summit Securities Group LLC grew its position in Allegro MicroSystems by 257.8% during the 1st quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock worth $101,000 after purchasing an additional 2,882 shares during the last quarter. Finally, GAMMA Investing LLC grew its position in Allegro MicroSystems by 144.3% during the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock worth $104,000 after purchasing an additional 2,454 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

Insider Transactions at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the sale, the chief accounting officer directly owned 17,300 shares of the company's stock, valued at approximately $567,613. This represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.40% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on ALGM. Wall Street Zen raised shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Bank of America dropped their price objective on shares of Allegro MicroSystems from $45.00 to $38.00 and set a "buy" rating on the stock in a report on Friday, September 5th. UBS Group upped their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 7th. Zacks Research raised shares of Allegro MicroSystems to a "hold" rating in a report on Monday, August 11th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and issued a $42.00 price objective (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Eight equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Allegro MicroSystems currently has an average rating of "Moderate Buy" and a consensus price target of $36.78.

Allegro MicroSystems Stock Performance

NASDAQ ALGM traded up $0.07 during mid-day trading on Monday, reaching $29.87. 1,376,287 shares of the stock were exchanged, compared to its average volume of 1,392,430. The business's 50 day moving average is $32.46 and its 200-day moving average is $28.08. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $38.45. The company has a market capitalization of $5.53 billion, a P/E ratio of -80.73 and a beta of 1.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The firm had revenue of $203.41 million for the quarter, compared to the consensus estimate of $197.82 million. During the same period in the prior year, the firm posted $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. On average, equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

About Allegro MicroSystems

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.