Northern Trust Corp Raises Holdings in Allegro MicroSystems, Inc. $ALGM

Key Points

• Northern Trust Corp increased its holdings in Allegro MicroSystems by 1.4%, owning over 1 million shares valued at approximately $27.4 million as of the end of the first quarter.
• Several institutional investors significantly raised their stakes in Allegro MicroSystems during the first quarter, including Fifth Third Bancorp which increased its holdings by 63.7%.
• Research analysts have recently boosted their price targets for Allegro MicroSystems, with Bank of America raising its objective from $38 to $45 and Wells Fargo setting a new target at $42.

Northern Trust Corp raised its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 1.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,089,779 shares of the company's stock after buying an additional 15,346 shares during the quarter. Northern Trust Corp owned 0.59% of Allegro MicroSystems worth $27,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings in shares of Allegro MicroSystems by 2.8% during the fourth quarter. Mackenzie Financial Corp now owns 18,192 shares of the company's stock worth $398,000 after buying an additional 491 shares in the last quarter. Fifth Third Bancorp boosted its position in Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock worth $33,000 after acquiring an additional 504 shares during the last quarter. UMB Bank n.a. boosted its position in Allegro MicroSystems by 68.6% during the 1st quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock worth $36,000 after acquiring an additional 578 shares during the last quarter. CWM LLC boosted its position in Allegro MicroSystems by 22.2% during the 1st quarter. CWM LLC now owns 4,299 shares of the company's stock worth $108,000 after acquiring an additional 781 shares during the last quarter. Finally, Xponance Inc. boosted its position in Allegro MicroSystems by 5.4% during the 1st quarter. Xponance Inc. now owns 15,668 shares of the company's stock worth $394,000 after acquiring an additional 806 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on ALGM shares. Barclays raised their price target on Allegro MicroSystems from $23.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Zacks Research raised Allegro MicroSystems to a "hold" rating in a report on Monday, August 11th. Morgan Stanley decreased their price target on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Mizuho upped their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Finally, Needham & Company LLC upped their price target on Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $37.56.

Allegro MicroSystems Stock Up 0.7%

NASDAQ:ALGM traded up $0.21 on Thursday, hitting $30.04. The stock had a trading volume of 699,102 shares, compared to its average volume of 2,710,605. The business's fifty day moving average is $33.21 and its 200 day moving average is $27.75. The company has a market cap of $5.56 billion, a PE ratio of -81.18 and a beta of 1.74. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. 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 data on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm 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 company's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. On average, equities research analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the transaction, the chief accounting officer directly owned 17,300 shares in the company, valued at approximately $567,613. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.40% of the company's stock.

About Allegro MicroSystems

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.