Charles Schwab Investment Management Inc. Increases Holdings in Allegro MicroSystems, Inc. $ALGM

Key Points

• Charles Schwab Investment Management Inc. increased its holdings in Allegro MicroSystems by 2.8%, owning 1,166,915 shares valued at approximately $29.3 million as of their latest SEC filing.
• Allegro MicroSystems' shares had a 52-week price range of $16.38 to $38.45, with the company reporting a revenue increase of 21.9% year-over-year, hitting $203.41 million for the recent quarter.
• Several analysts upgraded their price targets for Allegro MicroSystems, with Bank of America raising it to $45.00 and Mizuho to $40.00, while the stock has a consensus rating of "Moderate Buy".

Charles Schwab Investment Management Inc. raised its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,166,915 shares of the company's stock after buying an additional 31,568 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.63% of Allegro MicroSystems worth $29,325,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ALGM. Mackenzie Financial Corp increased its holdings in shares of Allegro MicroSystems by 2.8% in the fourth quarter. Mackenzie Financial Corp now owns 18,192 shares of the company's stock valued at $398,000 after purchasing an additional 491 shares during the period. Fifth Third Bancorp increased its holdings 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 valued at $33,000 after purchasing an additional 504 shares during the period. UMB Bank n.a. increased 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 valued at $36,000 after purchasing an additional 578 shares during the period. CWM LLC increased its holdings in shares of Allegro MicroSystems by 22.2% in the first quarter. CWM LLC now owns 4,299 shares of the company's stock valued at $108,000 after purchasing an additional 781 shares during the period. Finally, Xponance Inc. increased its holdings in shares of Allegro MicroSystems by 5.4% in the first quarter. Xponance Inc. now owns 15,668 shares of the company's stock valued at $394,000 after purchasing an additional 806 shares during the period. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Allegro MicroSystems from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Wells Fargo & Company reissued an "overweight" rating and issued a $42.00 price objective (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. TD Cowen cut their price objective on Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating on the stock in a report on Friday, August 1st. Zacks Research raised Allegro MicroSystems to a "hold" rating in a report on Monday, August 11th. Finally, Needham & Company LLC increased their price objective on Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, July 31st. One investment 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.56.

Allegro MicroSystems Stock Performance

Allegro MicroSystems stock traded up $1.25 during midday trading on Friday, hitting $32.13. 1,365,817 shares of the company were exchanged, compared to its average volume of 1,523,681. The firm has a market capitalization of $5.95 billion, a PE ratio of -86.84 and a beta of 1.74. The business has a fifty day simple moving average of $33.28 and a two-hundred day simple moving average of $27.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. 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 issued its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. The company had revenue of $203.41 million for the quarter, compared to the consensus estimate of $197.82 million. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.Allegro MicroSystems's revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. On average, 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.