Granahan Investment Management LLC Decreases Stake in Allegro MicroSystems, Inc. $ALGM

Key Points

• Granahan Investment Management LLC has reduced its holdings in Allegro MicroSystems by 84.2%, owning 31,956 shares valued at approximately $803,000 after selling 169,861 shares in the first quarter.
• Invesco Ltd. increased its stake in Allegro MicroSystems by 131.5%, purchasing an additional 2,746,880 shares, bringing its total holdings to 4,835,641 shares valued at $121,520,000.
• Allegro MicroSystems has received mixed analyst ratings, with eight analysts$36.78.

Granahan Investment Management LLC lowered its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 84.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,956 shares of the company's stock after selling 169,861 shares during the quarter. Granahan Investment Management LLC's holdings in Allegro MicroSystems were worth $803,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Mackenzie Financial Corp increased its holdings in shares of Allegro MicroSystems by 2.8% during the fourth quarter. Mackenzie Financial Corp now owns 18,192 shares of the company's stock valued at $398,000 after acquiring an additional 491 shares in the last quarter. Fifth Third Bancorp lifted its stake in Allegro MicroSystems by 63.7% during 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 during the period. UMB Bank n.a. lifted its stake in Allegro MicroSystems by 68.6% during 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 during the period. CWM LLC lifted its stake in Allegro MicroSystems by 22.2% during the 1st quarter. CWM LLC now owns 4,299 shares of the company's stock valued at $108,000 after acquiring an additional 781 shares during the period. Finally, Xponance Inc. lifted its stake in Allegro MicroSystems by 5.4% during the 1st quarter. Xponance Inc. now owns 15,668 shares of the company's stock valued at $394,000 after acquiring an additional 806 shares during the period. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM traded up $0.21 during midday trading on Thursday, reaching $30.72. 442,394 shares of the company's stock traded hands, compared to its average volume of 2,677,618. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $38.45. The company has a market cap of $5.68 billion, a P/E ratio of -83.12 and a beta of 1.74. 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 fifty day simple moving average of $32.82 and a two-hundred day simple moving average of $27.87.

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 analysts' consensus estimates of $0.09. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The business had revenue of $203.41 million during the quarter, compared to analysts' expectations of $197.82 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The company's quarterly revenue was up 21.9% on a year-over-year basis. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities analysts predict that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on ALGM shares. Barclays raised their target price on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Mizuho raised 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. 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. Bank of America reduced their target price on shares of Allegro MicroSystems from $45.00 to $38.00 and set a "buy" rating for the company in a report on Friday, September 5th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $42.00 price objective (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Eight investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $36.78.

Insider Transactions at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value of $271,207.46. Following the sale, the chief accounting officer directly owned 17,300 shares in the company, valued at approximately $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.40% of the company's stock.

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.