Bayforest Capital Ltd Invests $650,000 in Allegro MicroSystems, Inc. $ALGM

Key Points

• Bayforest Capital Ltd has made a significant investment of $650,000 in Allegro MicroSystems by purchasing 19,000 shares during the second quarter.
• Analysts have shown positive sentiment towards Allegro MicroSystems, with eight research analysts giving it a "Buy" rating and an average price target of $36.78.
• Despite recent sales by insiders, 56.45% of Allegro MicroSystems' stock is owned by institutional investors, indicating strong institutional confidence in the company.

Bayforest Capital Ltd purchased a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 19,000 shares of the company's stock, valued at approximately $650,000.

Other large investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its stake in shares of Allegro MicroSystems by 63.7% in the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock worth $33,000 after acquiring an additional 504 shares during the period. UMB Bank n.a. boosted its holdings in shares of Allegro MicroSystems by 68.6% in the first quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock worth $36,000 after buying an additional 578 shares during the last quarter. DekaBank Deutsche Girozentrale purchased a new position in shares of Allegro MicroSystems in the first quarter worth approximately $71,000. Summit Securities Group LLC boosted its holdings in shares of Allegro MicroSystems by 257.8% in the first quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock worth $101,000 after buying an additional 2,882 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Allegro MicroSystems by 144.3% in the first quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock worth $104,000 after buying an additional 2,454 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ALGM has been the topic of a number of research reports. Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Wells Fargo & Company reissued an "overweight" rating and issued a $42.00 price objective (up previously from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. UBS Group raised their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Morgan Stanley dropped their price objective on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. Finally, TD Cowen dropped their price objective on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Eight research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.78.

Allegro MicroSystems Price Performance

ALGM stock opened at $27.41 on Tuesday. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45. The company's fifty day moving average price is $30.23 and its 200-day moving average price is $28.48. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. The company has a market capitalization of $5.07 billion, a PE ratio of -74.08 and a beta of 1.72.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its 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 firm had revenue of $203.41 million for the quarter, compared to the consensus estimate of $197.82 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The company's quarterly revenue 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. On average, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the company's stock in a transaction 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 sale, the chief accounting officer owned 17,300 shares of the company's stock, valued at $567,613. This 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 available through this link. 0.40% of the stock is currently owned by 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.

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