Cresset Asset Management LLC Acquires Shares of 8,058 Allegro MicroSystems, Inc. $ALGM

Key Points

• Cresset Asset Management LLC has made a new investment in Allegro MicroSystems, acquiring 8,058 shares valued at approximately $202,000.
• Several institutional investors, including Fifth Third Bancorp and UMB Bank, have also increased their holdings or initiated positions in Allegro MicroSystems recently.
• Allegro MicroSystems reported a 21.9% year-over-year revenue increase in its latest quarterly earnings, with earnings per share meeting analyst estimates.

Cresset Asset Management LLC purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 8,058 shares of the company's stock, valued at approximately $202,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Ethic Inc. acquired a new position in shares of Allegro MicroSystems during the 1st quarter worth about $510,000. Russell Investments Group Ltd. increased its stake in shares of Allegro MicroSystems by 17.9% during the 1st quarter. Russell Investments Group Ltd. now owns 12,491 shares of the company's stock worth $314,000 after purchasing an additional 1,892 shares during the last quarter. Trillium Asset Management LLC increased its stake in shares of Allegro MicroSystems by 27.2% during the 1st quarter. Trillium Asset Management LLC now owns 326,592 shares of the company's stock worth $8,208,000 after purchasing an additional 69,782 shares during the last quarter. Nuveen LLC acquired a new position in shares of Allegro MicroSystems during the 1st quarter worth about $3,110,000. Finally, Invesco Ltd. increased its stake in shares of Allegro MicroSystems by 131.5% during the 1st quarter. Invesco Ltd. now owns 4,835,641 shares of the company's stock worth $121,520,000 after purchasing an additional 2,746,880 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Stock Performance

NASDAQ ALGM traded down $1.16 during trading on Monday, reaching $30.85. The company's stock had a trading volume of 1,204,008 shares, compared to its average volume of 1,336,547. 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 firm has a market capitalization of $5.71 billion, a price-to-earnings ratio of -83.38 and a beta of 1.74. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $38.45. The firm has a 50 day moving average price of $33.32 and a 200 day moving average price of $27.71.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. The firm had revenue of $203.41 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ALGM shares. Zacks Research upgraded shares of Allegro MicroSystems to a "hold" rating in a research note on Monday, August 11th. Needham & Company LLC lifted their target price 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 reaffirmed an "overweight" rating and set a $42.00 target price (up previously from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. TD Cowen reduced their target price on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a report on Friday, August 1st. Finally, Mizuho lifted their target price on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One research 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $37.56.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the sale, the chief accounting officer owned 17,300 shares of the company's stock, valued at $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.40% of the stock is owned by corporate insiders.

Allegro MicroSystems 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.