Allegro MicroSystems, Inc. $ALGM Stock Holdings Raised by Millennium Management LLC

Millennium Management LLC increased its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 81.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,402,978 shares of the company's stock after purchasing an additional 1,078,025 shares during the period. Millennium Management LLC owned 1.31% of Allegro MicroSystems worth $60,387,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in Allegro MicroSystems by 63.7% in the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after acquiring an additional 504 shares in the last quarter. UMB Bank n.a. raised its holdings in Allegro MicroSystems by 68.6% during the first quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock worth $36,000 after purchasing an additional 578 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Allegro MicroSystems during the first quarter worth about $71,000. Summit Securities Group LLC raised its holdings in Allegro MicroSystems by 257.8% during the first quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock worth $101,000 after purchasing an additional 2,882 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Allegro MicroSystems by 144.3% during the first quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock worth $104,000 after purchasing an additional 2,454 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Wall Street Analysts Forecast Growth

ALGM has been the subject of a number of research analyst reports. Wall Street Zen raised shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. 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 research report on Friday, August 1st. UBS Group raised their target price on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Finally, Bank of America decreased their target price on shares of Allegro MicroSystems from $45.00 to $38.00 and set a "buy" rating on the stock in a research report on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $36.78.

Insider Buying and Selling

In other news, CAO Roald Graham Webster sold 8,266 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the sale, the chief accounting officer owned 17,300 shares of the company's stock, valued at approximately $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by corporate insiders.

Allegro MicroSystems Stock Down 0.6%

Shares of NASDAQ:ALGM traded down $0.17 during midday trading on Friday, hitting $29.80. 1,146,788 shares of the company's stock traded hands, compared to its average volume of 1,393,079. 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 market cap of $5.51 billion, a PE ratio of -80.54 and a beta of 1.74. The firm's fifty day moving average price is $32.57 and its two-hundred day moving average price is $27.98. Allegro MicroSystems, Inc. has a twelve month low of $16.38 and a twelve month high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. During the same quarter in the previous year, the business posted $0.03 EPS. The firm's revenue was up 21.9% compared to the same quarter last year. 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 fiscal year.

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.