T. Rowe Price Investment Management Inc. Sells 785,633 Shares of Allegro MicroSystems, Inc. $ALGM

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Allegro MicroSystems by 38%, selling 785,633 shares in the last quarter.
• Several institutional investors have increased their positions in Allegro MicroSystems, with notable boosts from Summit Securities Group LLC (257.8%) and Raymond James Financial Inc. (43.4%).
• Allegro MicroSystems reported $203.41 million in revenue for the quarter, exceeding analyst estimates, while earnings per share (EPS) met expectations at $0.09.

T. Rowe Price Investment Management Inc. trimmed its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 38.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,280,246 shares of the company's stock after selling 785,633 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 0.70% of Allegro MicroSystems worth $32,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in ALGM. Fifth Third Bancorp grew its stake in Allegro MicroSystems by 63.7% during the first 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 last quarter. UMB Bank n.a. grew its stake in shares of Allegro MicroSystems by 68.6% during the first 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 last quarter. TD Waterhouse Canada Inc. bought a new stake in shares of Allegro MicroSystems during the fourth quarter valued at approximately $40,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Allegro MicroSystems during the first quarter valued at approximately $71,000. Finally, Quarry LP bought a new stake in shares of Allegro MicroSystems during the fourth quarter valued at approximately $79,000. 56.45% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALGM has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. 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 note on Thursday, July 10th. Mizuho raised their price objective on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, TD Cowen reduced their price objective on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. One 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, Allegro MicroSystems has a consensus rating of "Moderate Buy" and a consensus price target of $37.56.

Insiders Place Their Bets

In related news, CAO Roald Graham Webster sold 8,266 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the transaction, the chief accounting officer owned 17,300 shares of the company's stock, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company's stock.

Allegro MicroSystems Stock Down 2.1%

Shares of NASDAQ:ALGM traded down $0.66 during midday trading on Friday, reaching $31.35. 178,973 shares of the company were exchanged, compared to its average volume of 2,732,622. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $38.45. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $33.34 and a two-hundred day simple moving average of $27.59. The firm has a market cap of $5.80 billion, a PE ratio of -84.90 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $197.82 million. During the same period last year, the business posted $0.03 earnings per share. The firm's quarterly 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. As a group, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

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.