Adage Capital Partners GP L.L.C. Decreases 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. trimmed its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 22.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,108,423 shares of the company's stock after selling 625,137 shares during the period. Adage Capital Partners GP L.L.C. owned about 1.15% of Allegro MicroSystems worth $52,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp grew its position in shares of Allegro MicroSystems by 2.8% in the 4th quarter. Mackenzie Financial Corp now owns 18,192 shares of the company's stock worth $398,000 after buying an additional 491 shares during the period. Fifth Third Bancorp grew its holdings in shares of Allegro MicroSystems by 63.7% in the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after purchasing an additional 504 shares in the last quarter. UMB Bank n.a. boosted its stake in Allegro MicroSystems by 68.6% during the first quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock worth $36,000 after buying an additional 578 shares during the period. CWM LLC raised its holdings in shares of Allegro MicroSystems by 22.2% in the first quarter. CWM LLC now owns 4,299 shares of the company's stock valued at $108,000 after acquiring an additional 781 shares in the last quarter. Finally, Xponance Inc. grew its stake in Allegro MicroSystems by 5.4% in the first quarter. Xponance Inc. now owns 15,668 shares of the company's stock valued at $394,000 after purchasing an additional 806 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Stock Performance

ALGM stock traded down $0.18 during mid-day trading on Monday, hitting $30.39. 1,642,837 shares of the company were exchanged, compared to its average volume of 2,701,373. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year high of $38.45. The stock has a market capitalization of $5.62 billion, a PE ratio of -82.13 and a beta of 1.74. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The business has a 50 day simple moving average of $33.07 and a 200-day simple moving average of $27.81.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.09 EPS 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 business had revenue of $203.41 million during the quarter, compared to the consensus estimate of $197.82 million. During the same period in the previous year, the business earned $0.03 earnings per share. The company's 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. On average, equities analysts forecast that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Allegro MicroSystems

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALGM shares. TD Cowen decreased their price target on Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a report on Friday, August 1st. Mizuho increased their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Wells Fargo & Company restated an "overweight" rating and issued a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a research note on Wednesday, July 16th. Needham & Company LLC upped their target price on Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Finally, UBS Group increased their price target on Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a report 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. According to data from MarketBeat, Allegro MicroSystems has an average rating of "Moderate Buy" and a consensus target price of $36.78.

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.