Nuveen LLC Takes $3.11 Million Position in Allegro MicroSystems, Inc. $ALGM

Key Points

• Nuveen LLC has acquired a new position in Allegro MicroSystems, purchasing 123,737 shares valued at approximately $3.11 million, holding about 0.07% of the company's stock as of the latest reporting period.
• Analysts have shown a positive outlook on Allegro MicroSystems, with Bank of America and UBS Group recently raising their price targets to $45.00 and $42.00, respectively, while maintaining buy ratings.
• Allegro MicroSystems reported a 21.9% year-over-year increase in revenue for the last quarter, totaling $203.41 million, with earnings per share meeting consensus estimates at $0.09.

Nuveen LLC purchased a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 123,737 shares of the company's stock, valued at approximately $3,110,000. Nuveen LLC owned approximately 0.07% of Allegro MicroSystems at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALGM. Invesco Ltd. lifted its stake in Allegro MicroSystems by 131.5% in the first quarter. Invesco Ltd. now owns 4,835,641 shares of the company's stock valued at $121,520,000 after buying an additional 2,746,880 shares during the period. Wellington Management Group LLP increased its holdings in shares of Allegro MicroSystems by 30.5% during the fourth quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company's stock valued at $87,302,000 after acquiring an additional 934,048 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Allegro MicroSystems by 6.4% during the first quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company's stock valued at $60,717,000 after acquiring an additional 144,824 shares in the last quarter. Woodline Partners LP increased its holdings in shares of Allegro MicroSystems by 18.4% during the fourth quarter. Woodline Partners LP now owns 1,833,705 shares of the company's stock valued at $40,085,000 after acquiring an additional 285,573 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Allegro MicroSystems by 30.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,719,274 shares of the company's stock valued at $37,582,000 after acquiring an additional 404,761 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Zacks Research upgraded Allegro MicroSystems to a "hold" rating in a report on Monday, August 11th. Bank of America boosted their price objective on Allegro MicroSystems from $38.00 to $45.00 and gave the company an "action list buy" rating in a report on Thursday, July 10th. Morgan Stanley decreased their price objective on Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Mizuho upped their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Finally, TD Cowen decreased their price target on Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, Allegro MicroSystems presently has an average rating of "Moderate Buy" and an average target price of $37.56.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction that occurred 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 transaction, the chief accounting officer directly owned 17,300 shares of the company's stock, valued at $567,613. The trade was a 32.33% decrease in their position. The sale 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 company insiders.

Allegro MicroSystems Price Performance

ALGM traded down $1.16 during trading on Friday, reaching $30.85. 1,204,008 shares of the company were exchanged, compared to its average volume of 1,336,547. The company's 50-day moving average is $33.34 and its two-hundred day moving average is $27.66. The company has a market cap of $5.71 billion, a price-to-earnings ratio of 308.50 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 12-month low of $16.38 and a 12-month high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The firm had revenue of $203.41 million for the quarter, compared to analysts' expectations of $197.82 million. During the same quarter last year, the firm posted $0.03 EPS. The company'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. Research analysts forecast 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.