Analog Century Management LP Has $48.56 Million Position in Allegro MicroSystems, Inc. $ALGM

Key Points

• Analog Century Management LP reduced its stake in Allegro MicroSystems by 3.5%, now holding approximately 1,932,170 shares, which represents 3.9% of its overall portfolio.
• Several institutional investors increased their holdings in Allegro MicroSystems, with Invesco Ltd. leading the way by boosting its stake by 131.5% during the first quarter.
• Analyst ratings for Allegro MicroSystems vary, with target prices ranging from $35.00 to $45.00, showing a consensus average rating of "Moderate Buy" with a target price of $37.56.

Analog Century Management LP trimmed its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 3.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,932,170 shares of the company's stock after selling 69,268 shares during the period. Allegro MicroSystems makes up about 3.9% of Analog Century Management LP's investment portfolio, making the stock its 13th biggest position. Analog Century Management LP owned 1.05% of Allegro MicroSystems worth $48,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGM. Dimensional Fund Advisors LP lifted its holdings in Allegro MicroSystems by 30.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,719,274 shares of the company's stock valued at $37,582,000 after purchasing an additional 404,761 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in Allegro MicroSystems by 178.0% during the 4th quarter. Hsbc Holdings PLC now owns 53,893 shares of the company's stock valued at $1,190,000 after purchasing an additional 34,505 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Allegro MicroSystems by 34.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,464 shares of the company's stock valued at $1,738,000 after purchasing an additional 20,336 shares during the last quarter. Boothbay Fund Management LLC bought a new position in Allegro MicroSystems during the 4th quarter valued at about $232,000. Finally, Quarry LP bought a new position in Allegro MicroSystems during the 4th quarter valued at about $79,000. 56.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ALGM. UBS Group lifted their price target on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 7th. Mizuho lifted their price target on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Zacks Research raised shares of Allegro MicroSystems to a "hold" rating in a report on Monday, August 11th. Bank of America raised their price objective on shares of 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. Finally, Barclays raised 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. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $37.56.

Allegro MicroSystems Trading Down 2.8%

Shares of NASDAQ:ALGM traded down $0.86 during trading on Wednesday, hitting $29.64. 404,595 shares of the company's stock were exchanged, compared to its average volume of 2,718,321. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year high of $38.45. The firm has a 50-day moving average price of $33.27 and a two-hundred day moving average price of $27.73. 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 firm has a market cap of $5.48 billion, a P/E ratio of -80.11 and a beta of 1.74.

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

Insider Transactions at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the business'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 transaction, the chief accounting officer owned 17,300 shares in the company, valued at approximately $567,613. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.40% of the company's stock.

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.