Principal Financial Group Inc. Lowers Stock Position in Allegro MicroSystems, Inc. $ALGM

Key Points

• Principal Financial Group cut its stake in Allegro MicroSystems by 9.0% in the fourth quarter, selling 171,778 shares and ending with 1,742,296 shares valued at about $45.96 million.
• Allegro MicroSystems posted a strong quarter, beating estimates with EPS of $0.17 and revenue of $243.19 million, while revenue rose 26.1% year over year.
• Analysts turned more bullish after the results, with several firms lifting price targets and the stock now carrying a Moderate Buy consensus and average target of $51.80.

Principal Financial Group Inc. reduced its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,742,296 shares of the company's stock after selling 171,778 shares during the period. Principal Financial Group Inc. owned 0.94% of Allegro MicroSystems worth $45,962,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Hantz Financial Services Inc. lifted its holdings in Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company's stock worth $26,000 after purchasing an additional 419 shares in the last quarter. Quent Capital LLC purchased a new position in Allegro MicroSystems in the 3rd quarter worth approximately $28,000. Farther Finance Advisors LLC lifted its holdings in Allegro MicroSystems by 815.4% in the 4th quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company's stock worth $57,000 after purchasing an additional 1,908 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in Allegro MicroSystems by 12,315.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company's stock worth $73,000 after purchasing an additional 2,463 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Allegro MicroSystems by 78.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,945 shares of the company's stock worth $115,000 after purchasing an additional 1,735 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Performance

NASDAQ:ALGM opened at $48.95 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.39. Allegro MicroSystems, Inc. has a 1 year low of $21.41 and a 1 year high of $51.40. The stock's 50 day simple moving average is $36.43 and its two-hundred day simple moving average is $32.80. The company has a market cap of $9.07 billion, a price-to-earnings ratio of -543.83 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The business had revenue of $243.19 million for the quarter, compared to the consensus estimate of $235.94 million. During the same quarter in the previous year, the company posted $0.06 EPS. The company's revenue was up 26.1% compared to the same quarter last year. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.69 earnings per share for the current fiscal year.

More Allegro MicroSystems News

Here are the key news stories impacting Allegro MicroSystems this week:

• Positive Sentiment: Allegro MicroSystems beat quarterly expectations, reporting EPS of $0.17 versus $0.16 expected and revenue of $243.19 million versus $235.94 million expected, with sales up 26.1% year over year. Earnings Report and Transcript
• Positive Sentiment: The company’s Q1 2027 guidance also came in roughly in line to slightly above expectations, with EPS guidance of $0.19-$0.23 and revenue guidance of $245 million-$255 million, reinforcing confidence in near-term growth. Q4 and Fiscal 2026 Results
• Positive Sentiment: Wall Street sentiment turned more bullish, with Wells Fargo raising its target to $56 and Mizuho raising its target to $54, both implying further upside from recent trading levels. Analyst Target Raises
• Positive Sentiment: Needham also increased its target to $55 and maintained a buy rating, adding to the cluster of post-earnings upgrades and target hikes. Needham Target Raise
• Neutral Sentiment: Some market commentary noted that the shares had initially fallen after the beat-and-raise results, suggesting investors may have been focused on valuation or guidance being only in line rather than a major upside surprise. Stock Falls Despite Beat and Raise

Analyst Ratings Changes

A number of research analysts recently commented on the company. Needham & Company LLC boosted their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the stock a "buy" rating in a report on Thursday. Mizuho boosted their price target on Allegro MicroSystems from $44.00 to $54.00 and gave the stock an "outperform" rating in a report on Friday. UBS Group boosted their price target on Allegro MicroSystems from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Friday. TD Cowen boosted their price target on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Finally, Wall Street Zen raised Allegro MicroSystems from a "hold" rating to a "buy" rating in a report on Sunday, January 18th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $51.80.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc NASDAQ: ALGM is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro's product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.

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