Charles Schwab Investment Management Inc. Purchases 31,568 Shares of 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. grew its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 2.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,166,915 shares of the company's stock after acquiring an additional 31,568 shares during the period. Charles Schwab Investment Management Inc. owned 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 have also modified their holdings of the stock. 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 in the last quarter. Fifth Third Bancorp lifted its position in Allegro MicroSystems by 63.7% in the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after acquiring an additional 504 shares in the last quarter. UMB Bank n.a. lifted its position in Allegro MicroSystems by 68.6% in the 1st quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock valued at $36,000 after acquiring an additional 578 shares in the last quarter. CWM LLC lifted its position in Allegro MicroSystems by 22.2% during the 1st quarter. CWM LLC now owns 4,299 shares of the company's stock worth $108,000 after buying an additional 781 shares in the last quarter. Finally, Xponance Inc. lifted its position in Allegro MicroSystems by 5.4% during the 1st quarter. Xponance Inc. now owns 15,668 shares of the company's stock worth $394,000 after buying an additional 806 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems 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 sale, the chief accounting officer owned 17,300 shares of the company's stock, valued at $567,613. This trade represents a 32.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by company insiders.

Allegro MicroSystems Price Performance

NASDAQ ALGM traded down $0.37 on Monday, hitting $31.76. The stock had a trading volume of 842,225 shares, compared to its average volume of 1,494,768. The firm has a 50-day moving average of $33.29 and a 200-day moving average of $27.47. 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 $5.88 billion, a price-to-earnings ratio of -85.84 and a beta of 1.74. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-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 earnings per share for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $203.41 million for the quarter, compared to analysts' expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The business's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. UBS Group upped their target price on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 7th. Zacks Research upgraded shares of Allegro MicroSystems to a "hold" rating in a research report on Monday, August 11th. TD Cowen dropped their price objective on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Morgan Stanley decreased their price objective on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Mizuho lifted their price objective on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, Allegro MicroSystems has a consensus rating of "Moderate Buy" and a consensus price target 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.