Allegro MicroSystems, Inc. $ALGM Shares Bought by State of New Jersey Common Pension Fund D

Key Points

• State of New Jersey Common Pension Fund D raised its stake in Allegro MicroSystems by 34.9% in Q4, adding 24,046 shares to hold 92,928 shares valued at about $2.45 million (≈0.05% of the company).
• Wall Street sentiment is broadly positive—ten analysts rate ALGM a Buy, one a Hold and one a Sell, giving a consensus rating of "Moderate Buy" and a consensus price target of $45, with several firms recently raising ratings or targets.
• ALGM shares are trading near their one‑year high (opened $51.37, up ~3.4%), with a market capitalization of about $9.5 billion, but a negative trailing P/E (-642) and roughly 56% institutional ownership, signaling strong investor interest amid an unstable near‑term earnings picture.

State of New Jersey Common Pension Fund D lifted its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,928 shares of the company's stock after acquiring an additional 24,046 shares during the period. State of New Jersey Common Pension Fund D owned 0.05% of Allegro MicroSystems worth $2,451,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of Allegro MicroSystems during the 4th quarter worth about $336,000. Pictet Asset Management Holding SA lifted its holdings in shares of Allegro MicroSystems by 19.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 20,787 shares of the company's stock worth $548,000 after acquiring an additional 3,387 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its holdings in shares of Allegro MicroSystems by 48.5% during the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 17,085 shares of the company's stock worth $451,000 after acquiring an additional 5,581 shares during the period. Evergreen Capital Management LLC purchased a new position in shares of Allegro MicroSystems during the 4th quarter worth about $212,000. Finally, Lecap Asset Management Ltd. purchased a new position in shares of Allegro MicroSystems during the 4th quarter worth about $783,000. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Allegro MicroSystems Trading Up 3.4%

NASDAQ ALGM opened at $51.37 on Thursday. Allegro MicroSystems, Inc. has a one year low of $18.17 and a one year high of $51.40. The company's 50 day moving average price is $36.25 and its 200 day moving average price is $32.67. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.39 and a current ratio of 3.65. The firm has a market capitalization of $9.52 billion, a price-to-earnings ratio of -642.13 and a beta of 2.02.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALGM shares. Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Morgan Stanley upgraded shares of Allegro MicroSystems from an "equal weight" rating to an "overweight" rating and set a $51.00 price objective on the stock in a report on Friday, February 13th. Needham & Company LLC increased their price objective on shares of Allegro MicroSystems from $41.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, February 19th. Bank of America increased their price objective on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Finally, UBS Group increased their price objective on shares of Allegro MicroSystems from $40.00 to $44.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Allegro MicroSystems presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc NASDAQ: ALGM is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro's product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.

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