Lecap Asset Management Ltd. Invests $630,000 in Allegro MicroSystems, Inc. $ALGM

Key Points

• Lecap Asset Management Ltd. acquired an 18,423 share stake in Allegro MicroSystems, valued at approximately $630,000, in the second quarter of this year.
• Institutional investors and hedge funds now own 56.45% of Allegro MicroSystems, with multiple funds increasing their holdings during the second quarter.
• Allegro MicroSystems reported revenue of $203.41 million for the last quarter, exceeding analyst estimates and marking a year-over-year growth of 21.9%.

Lecap Asset Management Ltd. acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 18,423 shares of the company's stock, valued at approximately $630,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGM. Public Employees Retirement System of Ohio lifted its holdings in Allegro MicroSystems by 6.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,956 shares of the company's stock worth $1,332,000 after buying an additional 2,251 shares during the last quarter. UMB Bank n.a. lifted its stake in Allegro MicroSystems by 29.2% during the second quarter. UMB Bank n.a. now owns 1,835 shares of the company's stock worth $63,000 after purchasing an additional 415 shares during the last quarter. Voya Investment Management LLC boosted its holdings in Allegro MicroSystems by 4,384.6% in the first quarter. Voya Investment Management LLC now owns 669,012 shares of the company's stock worth $16,812,000 after purchasing an additional 654,094 shares during the period. Osterweis Capital Management Inc. acquired a new position in Allegro MicroSystems in the first quarter worth $4,506,000. Finally, Rhumbline Advisers increased its stake in Allegro MicroSystems by 1.4% during the first quarter. Rhumbline Advisers now owns 330,263 shares of the company's stock valued at $8,299,000 after purchasing an additional 4,428 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the transaction, the chief accounting officer owned 17,300 shares of the company's stock, valued at approximately $567,613. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.40% of the company's stock.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $28.41 on Friday. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. The firm has a market capitalization of $5.26 billion, a price-to-earnings ratio of -76.78 and a beta of 1.72. The business has a 50 day simple moving average of $30.96 and a 200 day simple moving average of $28.41.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. The company had revenue of $203.41 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 21.9% on a year-over-year basis. 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. On average, equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ALGM shares. Morgan Stanley reduced their price target on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Needham & Company LLC raised 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. UBS Group upped their target price on Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a report on Monday, July 7th. Wells Fargo & Company reissued an "overweight" rating and issued a $42.00 price target (up previously from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Finally, Barclays boosted their price objective on 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 assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $36.78.

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.

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