Alyeska Investment Group L.P. Increases Stake in Allegro MicroSystems, Inc. $ALGM

Key Points

• Alyeska Investment Group L.P. increased its holdings in Allegro MicroSystems by 10.5%, owning 469,589 shares worth approximately $11.8 million at the end of the quarter.
• Several institutional investors, including Fifth Third Bancorp and UMB Bank, also significantly increased their positions, indicating a growing interest in Allegro MicroSystems among hedge funds.
• Analyst ratings for Allegro MicroSystems vary, with Barclays raising its price target to $30.00 and Mizuho suggesting an "outperform" rating, while consensus remains a "Moderate Buy" with a price target of $37.56.

Alyeska Investment Group L.P. boosted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 10.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 469,589 shares of the company's stock after buying an additional 44,588 shares during the quarter. Alyeska Investment Group L.P. owned approximately 0.26% of Allegro MicroSystems worth $11,801,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in shares of Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock worth $33,000 after buying an additional 504 shares during the period. UMB Bank n.a. grew its position in Allegro MicroSystems by 68.6% in the 1st quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock valued at $36,000 after purchasing an additional 578 shares during the period. DekaBank Deutsche Girozentrale bought a new position in Allegro MicroSystems during the 1st quarter valued at $71,000. Summit Securities Group LLC lifted its stake in Allegro MicroSystems by 257.8% during the 1st quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock valued at $101,000 after acquiring an additional 2,882 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Allegro MicroSystems by 144.3% during the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock valued at $104,000 after acquiring an additional 2,454 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Stock Performance

ALGM stock traded down $0.44 during trading on Wednesday, reaching $30.48. The stock had a trading volume of 397,813 shares, compared to its average volume of 2,680,319. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45. The stock's 50 day moving average is $32.92 and its two-hundred day moving average is $27.85. 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 $5.64 billion, a PE ratio of -82.50 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $197.82 million. During the same quarter last year, the company earned $0.03 earnings per share. The business'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. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Wall Street Analyst Weigh In

ALGM has been the topic of a number of recent analyst reports. Barclays lifted their target price on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Needham & Company LLC lifted their target price on Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Zacks Research raised Allegro MicroSystems to a "hold" rating in a report on Monday, August 11th. TD Cowen dropped their target price on Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $42.00 target price (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Allegro MicroSystems currently has an average rating of "Moderate Buy" and an average price target of $36.78.

Insiders Place Their Bets

In related news, CAO Roald Graham Webster sold 8,266 shares of the business's stock in a transaction on Friday, August 22nd. The stock was 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 $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is owned by company insiders.

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.