Kettle Hill Capital Management LLC Sells 729,608 Shares of Allegro MicroSystems, Inc. $ALGM

Key Points

• Kettle Hill Capital Management LLC has significantly reduced its holdings in Allegro MicroSystems, selling 729,608 shares and bringing its total ownership down by 88.7%.
• Analysts are divided on Allegro MicroSystems, with price targets ranging from $23.00 to $42.00, indicating varied outlooks on the company's performance.
• Allegro MicroSystems reported a revenue increase of 21.9% year-over-year, meeting earnings expectations with a reported $0.09 EPS.

Kettle Hill Capital Management LLC decreased its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 88.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,393 shares of the company's stock after selling 729,608 shares during the period. Kettle Hill Capital Management LLC owned approximately 0.05% of Allegro MicroSystems worth $2,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of ALGM. SG Americas Securities LLC purchased a new position in Allegro MicroSystems in the 1st quarter worth about $805,000. Mirae Asset Global Investments Co. Ltd. raised its position in Allegro MicroSystems by 18.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company's stock worth $668,000 after buying an additional 4,185 shares during the last quarter. Fifth Third Bancorp raised 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 worth $33,000 after buying an additional 504 shares during the last quarter. Frontier Capital Management Co. LLC purchased a new position in Allegro MicroSystems in the 4th quarter worth about $1,994,000. Finally, Deutsche Bank AG raised its position in Allegro MicroSystems by 295.9% in the 4th quarter. Deutsche Bank AG now owns 26,237 shares of the company's stock worth $574,000 after buying an additional 19,609 shares during the last quarter. Institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Price Performance

ALGM stock traded down $0.75 during midday trading on Wednesday, hitting $30.17. The company's stock had a trading volume of 693,434 shares, compared to its average volume of 2,681,710. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $38.45. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of -81.57 and a beta of 1.74. The company has a 50 day moving average of $32.92 and a two-hundred day moving average of $27.85.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The business had revenue of $203.41 million during 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%.The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. On average, analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the sale, the chief accounting officer owned 17,300 shares in the company, valued at approximately $567,613. This represents 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ALGM shares. TD Cowen reduced their price target on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Friday, August 1st. UBS Group upped their price target on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $42.00 price target (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Needham & Company LLC upped their price target on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. Finally, Barclays upped their price target on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Eight research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $36.78.

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.