179,290 Shares in Allegro MicroSystems, Inc. $ALGM Purchased by Osterweis Capital Management Inc.

Key Points

• Osterweis Capital Management Inc. acquired 179,290 shares of Allegro MicroSystems, valued at approximately $4.5 million, during the 1st quarter, holding about 0.10% of the company.
• Multiple hedge funds, including Millennium Management LLC, have increased their stakes in Allegro MicroSystems, with Millennium Management boosting its holdings by 81.4% to over 2.4 million shares.
• Research analysts are bullish on Allegro MicroSystems, raising their target prices significantly, with Needham & Company setting a new target of $37.00 and UBS increasing theirs to $42.00.

Osterweis Capital Management Inc. acquired 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 (SEC). The fund acquired 179,290 shares of the company's stock, valued at approximately $4,506,000. Osterweis Capital Management Inc. owned approximately 0.10% of Allegro MicroSystems at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Rhumbline Advisers boosted its stake in Allegro MicroSystems by 1.4% during the first quarter. Rhumbline Advisers now owns 330,263 shares of the company's stock worth $8,299,000 after acquiring an additional 4,428 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Allegro MicroSystems by 31.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company's stock worth $8,911,000 after buying an additional 85,607 shares in the last quarter. S Squared Technology LLC lifted its stake in shares of Allegro MicroSystems by 8.2% in the first quarter. S Squared Technology LLC now owns 397,451 shares of the company's stock worth $9,988,000 after buying an additional 30,000 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Allegro MicroSystems by 81.4% in the first quarter. Millennium Management LLC now owns 2,402,978 shares of the company's stock worth $60,387,000 after buying an additional 1,078,025 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Allegro MicroSystems by 12.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 157,197 shares of the company's stock worth $3,950,000 after buying an additional 16,952 shares in the last quarter. Institutional investors own 56.45% of the company's stock.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the company's stock in a transaction that occurred 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 completion of 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 Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ALGM shares. Needham & Company LLC upped their target price on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. Mizuho upped their target price on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Barclays upped their target price on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Wells Fargo & Company reiterated an "overweight" rating and issued a $42.00 target price (up previously from $33.00) on shares of Allegro MicroSystems in a research note on Wednesday, July 16th. Finally, UBS Group upped their target price on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, Allegro MicroSystems has an average rating of "Moderate Buy" and an average price target of $36.78.

Allegro MicroSystems Stock Down 1.8%

ALGM opened at $29.97 on Friday. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. The firm has a 50 day moving average price of $32.70 and a 200-day moving average price of $27.91. Allegro MicroSystems, Inc. has a twelve month low of $16.38 and a twelve month high of $38.45. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of -81.00 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate 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 during the quarter, compared to analysts' expectations of $197.82 million. During the same period in the previous year, the company earned $0.03 earnings per share. The firm's quarterly revenue was up 21.9% on a year-over-year basis. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

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.

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