First Trust Advisors LP Has $13.08 Million Holdings in Allegro MicroSystems, Inc. $ALGM

First Trust Advisors LP decreased its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 7.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 414,897 shares of the company's stock after selling 34,083 shares during the quarter. First Trust Advisors LP owned 0.22% of Allegro MicroSystems worth $13,082,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALGM. Parallel Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company's stock valued at $32,000 after purchasing an additional 302 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Allegro MicroSystems by 3.0% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company's stock worth $376,000 after buying an additional 419 shares in the last quarter. State of Michigan Retirement System grew its holdings in Allegro MicroSystems by 2.0% during the first quarter. State of Michigan Retirement System now owns 29,900 shares of the company's stock worth $943,000 after buying an additional 600 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Allegro MicroSystems by 85.8% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company's stock valued at $38,000 after buying an additional 669 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund raised its position in Allegro MicroSystems by 2.8% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 25,437 shares of the company's stock valued at $802,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ALGM shares. Jefferies Financial Group restated a "buy" rating and set a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Mizuho upped their target price on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the stock an "outperform" rating in a research note on Monday, June 29th. Barclays downgraded shares of Allegro MicroSystems from an "overweight" rating to an "equal weight" rating and set a $48.00 target price for the company. in a report on Monday, July 20th. Wells Fargo & Company raised their price target on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an "overweight" rating in a research report on Friday, May 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Allegro MicroSystems in a report on Wednesday, May 6th. Nine investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $55.40.

Allegro MicroSystems Trading Down 1.8%

Shares of Allegro MicroSystems stock opened at $41.45 on Friday. Allegro MicroSystems, Inc. has a 1 year low of $22.41 and a 1 year high of $71.77. The firm has a market cap of $7.72 billion, a PE ratio of -460.50 and a beta of 1.90. The stock has a fifty day moving average price of $51.91 and a 200-day moving average price of $42.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.21 by $0.02. The company had revenue of $259.24 million for the quarter, compared to the consensus estimate of $251.44 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. The firm's quarterly revenue was up 27.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. Equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.77 EPS for the current year.

Trending Headlines about Allegro MicroSystems

Here are the key news stories impacting Allegro MicroSystems this week:

• Positive Sentiment: Allegro reported fiscal Q1 2027 earnings of $0.23 per share, exceeding the $0.21 consensus estimate and rising from $0.09 a year earlier. Revenue increased 27.5% year over year to $259.24 million, also surpassing the $251.44 million analyst forecast. Allegro MicroSystems beats Q1 earnings and revenue estimates
• Positive Sentiment: Management issued fiscal Q2 2027 guidance for EPS of $0.23 to $0.26 and revenue of $265 million to $275 million. The revenue outlook is modestly above the $264.5 million consensus estimate, supporting expectations for continued growth. Allegro MicroSystems reports first quarter 2027 results
• Positive Sentiment: Needham raised its price target for ALGM from $55 to $57 and maintained a “buy” rating, indicating substantial potential upside based on its valuation assumptions. Needham raises Allegro MicroSystems price target
• Neutral Sentiment: Analyst commentary was mixed, causing the company’s fair-value assessment to edge higher but not producing a uniform bullish view. This may be limiting the stock’s reaction to the earnings beat. Allegro MicroSystems stock fair value edges higher after mixed analyst commentary
• Negative Sentiment: At roughly 136 times earnings, ALGM carries a demanding valuation. The company also reported a negative net margin, so investors may be focused on whether strong revenue growth can translate into sustained profitability.

Insiders Place Their Bets

In related news, Director Susan D. Lynch sold 16,711 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total value of $759,682.06. Following the transaction, the director owned 12,805 shares in the company, valued at approximately $582,115.30. This represents a 56.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Roald Graham Webster sold 5,217 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $44.88, for a total value of $234,138.96. Following the completion of the sale, the chief accounting officer owned 13,106 shares in the company, valued at approximately $588,197.28. The trade was a 28.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 68,607 shares of company stock valued at $3,213,714. Company insiders own 0.50% of the company's stock.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc NASDAQ: ALGM is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro's product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.

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