Adage Capital Partners GP L.L.C. Has $52.99 Million Stake in Allegro MicroSystems, Inc. $ALGM

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Allegro MicroSystems by 22.9%, selling 625,137 shares and now holding 2,108,423 shares valued at approximately $52.98 million.
• Several research analysts have recently adjusted their price targets for Allegro MicroSystems, with TD Cowen lowering it from $42.00 to $37.00, while Mizuho increased it to $40.00, highlighting a consensus rating of "Moderate Buy."
• Insider transactions include CAO Roald Graham Webster selling 8,266 shares at an average price of $32.81, reducing his position by 32.33%.

Adage Capital Partners GP L.L.C. lowered its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 22.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,108,423 shares of the company's stock after selling 625,137 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 1.15% of Allegro MicroSystems worth $52,985,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Invesco Ltd. lifted its position in shares of Allegro MicroSystems by 131.5% during the 1st quarter. Invesco Ltd. now owns 4,835,641 shares of the company's stock valued at $121,520,000 after acquiring an additional 2,746,880 shares during the period. Kodai Capital Management LP purchased a new stake in shares of Allegro MicroSystems during the 1st quarter valued at $41,610,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Allegro MicroSystems during the 1st quarter valued at $32,959,000. Meridiem Capital Partners LP purchased a new stake in Allegro MicroSystems during the 4th quarter worth $25,140,000. Finally, Wellington Management Group LLP boosted its position in Allegro MicroSystems by 30.5% during the 4th 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 period. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Stock Performance

Shares of ALGM traded up $0.28 during mid-day trading on Tuesday, reaching $30.67. 435,820 shares of the company's stock traded hands, compared to its average volume of 2,687,959. The business's 50-day moving average price is $32.99 and its 200-day moving average price is $27.83. The stock has a market capitalization of $5.68 billion, a P/E ratio of -82.84 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, Inc. has a 12 month low of $16.38 and a 12 month high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting 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 firm had revenue of $203.41 million for the quarter, compared to analysts' expectations of $197.82 million. During the same quarter in the previous year, the company 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. Equities analysts predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Insider Activity

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the company's stock in a transaction on 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 of the company's stock, valued at approximately $567,613. This represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

ALGM has been the subject of a number of research reports. Wells Fargo & Company reaffirmed an "overweight" rating and set a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Zacks Research raised shares of Allegro MicroSystems to a "hold" rating in a research report on Monday, August 11th. Mizuho upped their price objective on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Bank of America decreased their price objective on shares of Allegro MicroSystems from $45.00 to $38.00 and set a "buy" rating for the company in a research report on Friday. Finally, Barclays upped their price objective on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat, Allegro MicroSystems presently has an average rating of "Moderate Buy" and an average price target of $36.78.

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.