Lightrock Netherlands B.V. Has $16.02 Million Holdings in Allegro MicroSystems, Inc. $ALGM

Key Points

• Lightrock Netherlands B.V. increased its stake in Allegro MicroSystems by 43.3% in the first quarter, ending with 507,990 shares valued at about $16.0 million. The stock now represents 1.6% of the firm’s portfolio.
• Allegro MicroSystems reported better-than-expected Q1 earnings, posting $0.17 per share on revenue of $243.19 million, both ahead of analyst estimates. Revenue rose 26.1% year over year.
• Analysts remain constructive on ALGM, with multiple firms raising price targets and the stock carrying a Moderate Buy consensus rating and an average target of $55.20. Meanwhile, insiders have sold shares recently, including CEO Michael Doogue and SVP Ian Kent.

Lightrock Netherlands B.V. boosted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 43.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 507,990 shares of the company's stock after acquiring an additional 153,600 shares during the quarter. Allegro MicroSystems accounts for approximately 1.6% of Lightrock Netherlands B.V.'s investment portfolio, making the stock its 15th biggest holding. Lightrock Netherlands B.V. owned 0.27% of Allegro MicroSystems worth $16,017,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Kestra Advisory Services LLC bought a new stake in Allegro MicroSystems during the fourth quarter worth $34,000. CIBC Private Wealth Group LLC raised its holdings in shares of Allegro MicroSystems by 14,844.4% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company's stock valued at $35,000 after purchasing an additional 1,336 shares during the last quarter. Caitong International Asset Management Co. Ltd lifted its position in shares of Allegro MicroSystems by 85.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company's stock valued at $38,000 after purchasing an additional 669 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company's stock valued at $57,000 after purchasing an additional 1,908 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec purchased a new position in Allegro MicroSystems during the fourth quarter worth about $57,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $47.12 on Friday. The firm has a market cap of $8.78 billion, a P/E ratio of -523.50 and a beta of 1.90. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The company's 50 day moving average is $51.63 and its 200-day moving average is $41.34. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.01. The business had revenue of $243.19 million during the quarter, compared to analyst estimates of $235.94 million. Allegro MicroSystems had a negative net margin of 1.67% and a positive return on equity of 6.09%. Allegro MicroSystems's revenue was up 26.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Sell-side analysts predict that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current year.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Ian Kent sold 2,642 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $41.56, for a total value of $109,801.52. Following the completion of the transaction, the senior vice president owned 25,392 shares in the company, valued at $1,055,291.52. This trade represents a 9.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Michael Doogue sold 30,089 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.23, for a total value of $1,421,103.47. Following the sale, the chief executive officer owned 252,797 shares in the company, valued at approximately $11,939,602.31. This represents a 10.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 68,607 shares of company stock worth $3,213,714 in the last three months. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALGM. Wells Fargo & Company upped their target price on Allegro MicroSystems from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Jefferies Financial Group reaffirmed a "buy" rating and set a $62.00 target price on shares of Allegro MicroSystems in a research report on Thursday, May 7th. Evercore reiterated an "outperform" rating and set a $53.00 target price on shares of Allegro MicroSystems in a research note on Friday, May 8th. Barclays boosted their target price on shares of Allegro MicroSystems from $46.00 to $48.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. Finally, Mizuho increased their target price on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. Ten research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.20.

Allegro MicroSystems Company 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.

Want to see what other hedge funds are holding ALGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.