Invesco Ltd. Has $121.52 Million Position in Allegro MicroSystems, Inc. $ALGM

Key Points

• Invesco Ltd. significantly increased its holdings in Allegro MicroSystems by 131.5%, acquiring an additional 2,746,880 shares in the first quarter and now owns 2.63% of the company, valued at approximately $121.52 million.
• Allegro MicroSystems recently posted earnings of $0.09 per share, meeting analysts' expectations, with a revenue increase of 21.9% year-over-year to $203.41 million.
• Analyst ratings for Allegro MicroSystems vary, with price targets ranging from $30.00 to $42.00, and a consensus rating of "Moderate Buy" based on a majority of buy ratings.

Invesco Ltd. boosted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 131.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,835,641 shares of the company's stock after buying an additional 2,746,880 shares during the period. Invesco Ltd. owned approximately 2.63% of Allegro MicroSystems worth $121,520,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the business. Capital Research Global Investors increased its position in Allegro MicroSystems by 6.5% in the 4th quarter. Capital Research Global Investors now owns 5,768,208 shares of the company's stock worth $126,093,000 after buying an additional 353,776 shares during the period. Wellington Management Group LLP increased its position in shares of Allegro MicroSystems by 30.5% during the fourth quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company's stock valued at $87,302,000 after purchasing an additional 934,048 shares during the period. Adage Capital Partners GP L.L.C. increased its position in shares of Allegro MicroSystems by 50.1% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,733,560 shares of the company's stock valued at $59,756,000 after purchasing an additional 911,993 shares during the period. Principal Financial Group Inc. increased its position in shares of Allegro MicroSystems by 6.4% during the first quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company's stock valued at $60,717,000 after purchasing an additional 144,824 shares during the period. Finally, Paloma Partners Management Co increased its position in shares of Allegro MicroSystems by 312.8% during the fourth quarter. Paloma Partners Management Co now owns 2,103,800 shares of the company's stock valued at $45,989,000 after purchasing an additional 1,594,170 shares during the period. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Price Performance

ALGM stock traded down $0.0130 during trading on Tuesday, hitting $30.8170. The company had a trading volume of 189,978 shares, compared to its average volume of 2,796,763. The company has a fifty day moving average price of $33.18 and a two-hundred day moving average price of $27.23. 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 company has a market cap of $5.70 billion, a P/E ratio of -83.14 and a beta of 1.74. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $38.45.

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 analysts' consensus estimates of $0.09. The company had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The business's revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities research analysts expect that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALGM has been the topic of a number of research reports. Bank of America boosted 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. Wall Street Zen upgraded Allegro MicroSystems from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. UBS Group boosted 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. Morgan Stanley lowered their price objective on Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Mizuho boosted their price objective on Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $37.56.

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.