Alliancebernstein L.P. Has $23.97 Million Stake in Allegro MicroSystems, Inc. $ALGM

Key Points

• Alliancebernstein L.P. increased its stake in Allegro MicroSystems by 80.6% in Q1, owning 953,689 shares valued at approximately $23.97 million.
• Several hedge funds, including Invesco Ltd. and Wellington Management Group, have also significantly increased their stakes in Allegro, with institutional investors now owning 56.45% of the company's stock.
• Analysts have raised their price targets for Allegro MicroSystems, with the average target now at $36.78, indicating a consensus rating of "Moderate Buy."

Alliancebernstein L.P. lifted its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 80.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 953,689 shares of the company's stock after buying an additional 425,516 shares during the period. Alliancebernstein L.P. owned approximately 0.52% of Allegro MicroSystems worth $23,966,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Invesco Ltd. lifted its stake in shares of Allegro MicroSystems by 131.5% in the first quarter. Invesco Ltd. now owns 4,835,641 shares of the company's stock worth $121,520,000 after acquiring an additional 2,746,880 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Allegro MicroSystems by 30.5% in the fourth quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company's stock worth $87,302,000 after acquiring an additional 934,048 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Allegro MicroSystems by 6.4% in the first quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company's stock worth $60,717,000 after acquiring an additional 144,824 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Allegro MicroSystems by 18.4% in the fourth quarter. Woodline Partners LP now owns 1,833,705 shares of the company's stock worth $40,085,000 after acquiring an additional 285,573 shares in the last quarter. Finally, Kodai Capital Management LP acquired a new position in shares of Allegro MicroSystems in the first quarter worth about $41,610,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM traded down $0.17 on Friday, reaching $29.80. 1,146,788 shares of the company traded hands, compared to its average volume of 1,393,079. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $38.45. The company's 50 day moving average is $32.57 and its 200-day moving average is $27.95. The stock has a market capitalization of $5.51 billion, a PE ratio of -80.54 and a beta of 1.74. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. The company had revenue of $203.41 million during 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 company's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Activity

In related news, CAO Roald Graham Webster sold 8,266 shares of the 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 sale, the chief accounting officer directly owned 17,300 shares in the company, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. TD Cowen dropped their price target on Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating on the stock in a research report on Friday, August 1st. Mizuho increased their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Barclays increased their price target on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Morgan Stanley decreased their price objective on Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, UBS Group increased their price objective on Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $36.78.

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.