Allegro MicroSystems, Inc. $ALGM Shares Sold by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners Inc. reduced its holdings in Allegro MicroSystems by 38.7% in the first quarter, selling 146,649 shares, and now owns 232,055 shares valued at approximately $5.83 million.
• Other hedge funds are increasing their stakes in Allegro MicroSystems with Fifth Third Bancorp raising its holdings by 63.7% and UMB Bank n.a. by 68.6% during the same quarter.
• Analysts have mixed ratings for Allegro MicroSystems, with Wells Fargo upgrading its target price to $42.00 and a consensus rating reflecting a "Moderate Buy".

Polar Asset Management Partners Inc. lessened its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 38.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 232,055 shares of the company's stock after selling 146,649 shares during the quarter. Polar Asset Management Partners Inc. owned 0.13% of Allegro MicroSystems worth $5,832,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ALGM. Price T Rowe Associates Inc. MD grew its stake in Allegro MicroSystems by 34.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 79,464 shares of the company's stock valued at $1,738,000 after purchasing an additional 20,336 shares in the last quarter. Northern Trust Corp increased its stake in shares of Allegro MicroSystems by 13.6% in the fourth quarter. Northern Trust Corp now owns 1,074,433 shares of the company's stock worth $23,487,000 after buying an additional 128,726 shares during the last quarter. Deutsche Bank AG increased its stake in shares of Allegro MicroSystems by 295.9% in the fourth quarter. Deutsche Bank AG now owns 26,237 shares of the company's stock worth $574,000 after buying an additional 19,609 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Allegro MicroSystems in the fourth quarter worth $1,994,000. Finally, Kettle Hill Capital Management LLC bought a new stake in shares of Allegro MicroSystems in the fourth quarter worth $17,991,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Insider Activity

In other news, CAO Roald Graham Webster sold 8,266 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ALGM shares. Wall Street Zen upgraded shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Morgan Stanley dropped 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 note on Friday, August 1st. Bank of America dropped their price target on shares of Allegro MicroSystems from $45.00 to $38.00 and set a "buy" rating for the company in a research note on Friday, September 5th. UBS Group lifted their price target on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Finally, Barclays boosted their target price on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Eight analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $36.78.

Allegro MicroSystems Stock Performance

ALGM stock traded down $0.01 during trading on Thursday, hitting $30.51. 561,840 shares of the company's stock traded hands, compared to its average volume of 2,678,347. 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. The stock has a fifty day moving average price of $32.82 and a two-hundred day moving average price of $27.87. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of -82.34 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The company had revenue of $203.41 million during the quarter, compared to the consensus estimate of $197.82 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS 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.