Allegro MicroSystems, Inc. $ALGM Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its holdings in Allegro MicroSystems by 43.4%, owning approximately 993,340 shares worth around $24.96 million as of the latest SEC filing.
• Several institutional investors have significantly raised their positions in Allegro MicroSystems, with Barclays PLC increasing its stake by 106.7% and Tower Research Capital LLC boosting its position by nearly 595%.
• Allegro MicroSystems recently reported $0.09 EPS for the quarter, matching analysts' expectations, with revenue rising by 21.9% year-over-year to $203.41 million.

Raymond James Financial Inc. lifted its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 43.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 993,340 shares of the company's stock after purchasing an additional 300,505 shares during the quarter. Raymond James Financial Inc. owned about 0.54% of Allegro MicroSystems worth $24,963,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALGM. Barclays PLC raised its position in shares of Allegro MicroSystems by 106.7% in the 4th quarter. Barclays PLC now owns 156,325 shares of the company's stock worth $3,417,000 after buying an additional 80,705 shares during the period. Marshall Wace LLP purchased a new position in shares of Allegro MicroSystems in the 4th quarter worth $1,371,000. Dimensional Fund Advisors LP raised its position in shares of Allegro MicroSystems by 30.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,719,274 shares of the company's stock worth $37,582,000 after buying an additional 404,761 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Allegro MicroSystems by 594.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 20,298 shares of the company's stock worth $444,000 after buying an additional 17,377 shares during the period. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Allegro MicroSystems in the 4th quarter worth $40,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Barclays increased 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. Zacks Research raised Allegro MicroSystems to a "hold" rating in a research report on Monday, August 11th. Wells Fargo & Company reissued an "overweight" rating and issued a $42.00 price objective (up from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. UBS Group raised their price objective on Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Finally, Bank of America raised their price objective on Allegro MicroSystems from $38.00 to $45.00 and gave the company an "action list buy" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $37.56.

Allegro MicroSystems Trading Down 1.2%

NASDAQ:ALGM opened at $31.76 on Tuesday. The business's 50-day moving average is $33.29 and its two-hundred day moving average is $27.47. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $38.45. The firm has a market capitalization of $5.88 billion, a PE ratio of -85.84 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its 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 positive return on equity of 2.09% and a negative net margin of 9.00%.The business had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. During the same period in the previous year, the company earned $0.03 earnings per share. The company's revenue for the quarter 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 predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In other 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 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. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.40% of the company's stock.

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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