LPL Financial LLC Has $1.48 Million Position in Allegro MicroSystems, Inc. $ALGM

Key Points

• LPL Financial LLC has increased its holdings in Allegro MicroSystems, Inc. by 49.3% to $1.48 million, owning a total of 58,970 shares after purchasing an additional 19,471 shares during the first quarter.
• Analysts have raised price targets for Allegro MicroSystems, with Mizuho setting a new target of $40.00, while Bank of America increased theirs to $45.00, reflecting positive sentiment about the company's performance.
• Allegro MicroSystems reported quarterly earnings of $0.09 EPS, meeting estimates, and showed a 21.9% year-over-year revenue increase with total revenue of $203.41 million.

LPL Financial LLC increased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 49.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 58,970 shares of the company's stock after acquiring an additional 19,471 shares during the quarter. LPL Financial LLC's holdings in Allegro MicroSystems were worth $1,482,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ALGM. Mackenzie Financial Corp increased its position in Allegro MicroSystems by 2.8% during the 4th quarter. Mackenzie Financial Corp now owns 18,192 shares of the company's stock valued at $398,000 after purchasing an additional 491 shares during the period. Fifth Third Bancorp lifted its position in Allegro MicroSystems by 63.7% during the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after purchasing an additional 504 shares during the period. UMB Bank n.a. grew its position in shares of Allegro MicroSystems by 68.6% in the first quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock valued at $36,000 after purchasing an additional 578 shares during the period. CWM LLC increased its position in Allegro MicroSystems by 22.2% during the first quarter. CWM LLC now owns 4,299 shares of the company's stock worth $108,000 after purchasing an additional 781 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Allegro MicroSystems by 5.4% during the first quarter. Xponance Inc. now owns 15,668 shares of the company's stock worth $394,000 after purchasing an additional 806 shares in the last quarter. Institutional investors own 56.45% of the company's stock.

Insider Activity at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total value of $271,207.46. Following the transaction, the chief accounting officer owned 17,300 shares in the company, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on ALGM. Wells Fargo & Company reaffirmed an "overweight" rating and set a $42.00 price objective (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Needham & Company LLC increased their price objective on Allegro MicroSystems from $25.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, July 31st. Zacks Research raised Allegro MicroSystems to a "hold" rating in a research note on Monday, August 11th. Morgan Stanley dropped 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. Finally, UBS Group raised their price objective on Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $37.56.

Allegro MicroSystems Stock Up 0.3%

Shares of NASDAQ:ALGM traded up $0.08 on Wednesday, reaching $31.73. The company had a trading volume of 1,007,661 shares, compared to its average volume of 2,747,174. The firm has a market capitalization of $5.87 billion, a PE ratio of -85.77 and a beta of 1.74. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The firm's 50 day simple moving average is $33.31 and its 200-day simple moving average is $27.50. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. The firm had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. Allegro MicroSystems's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the company posted $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, analysts expect that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

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.