Allegro MicroSystems, Inc. $ALGM is S Squared Technology LLC's 7th Largest Position

Key Points

• S Squared Technology LLC has increased its stake in Allegro MicroSystems by 8.2%, owning approximately $9.99 million worth of shares, making it the company's 7th largest position.
• Allegro MicroSystems reported a 21.9% year-over-year revenue increase in its latest quarter, with earnings per share meeting analyst expectations at $0.09.
• Recent analyst reports have adjusted price targets for Allegro MicroSystems, with Bank of America lowering its target from $45.00 to $38.00, and Wells Fargo raising theirs from $33.00 to $42.00.

S Squared Technology LLC increased its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 8.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 397,451 shares of the company's stock after buying an additional 30,000 shares during the period. Allegro MicroSystems accounts for 5.1% of S Squared Technology LLC's holdings, making the stock its 7th biggest position. S Squared Technology LLC owned about 0.22% of Allegro MicroSystems worth $9,988,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fifth Third Bancorp increased its holdings 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 buying an additional 504 shares in the last quarter. UMB Bank n.a. increased its holdings in Allegro MicroSystems by 68.6% in the first quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock valued at $36,000 after buying an additional 578 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Allegro MicroSystems in the first quarter valued at $71,000. Summit Securities Group LLC increased its holdings in Allegro MicroSystems by 257.8% in the first quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock valued at $101,000 after buying an additional 2,882 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Allegro MicroSystems by 144.3% in the first quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock valued at $104,000 after buying an additional 2,454 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Trading Down 0.6%

NASDAQ ALGM traded down $0.17 during trading hours on Friday, hitting $29.80. 1,146,788 shares of the company's stock were exchanged, compared to its average volume of 2,675,914. The business's 50 day moving average is $32.70 and its 200-day moving average is $27.91. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. The firm has a market capitalization of $5.51 billion, a P/E ratio of -80.54 and a beta of 1.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, hitting 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 the consensus estimate of $197.82 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm'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, analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Barclays raised their price objective on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Mizuho increased their target price on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Morgan Stanley cut their price target on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Finally, Needham & Company LLC lifted their target price on Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems currently has an average rating of "Moderate Buy" and a consensus target price of $36.78.

Insider Buying and Selling at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction on 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 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by insiders.

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.