Allegro MicroSystems, Inc. $ALGM Shares Acquired by S Squared Technology LLC

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 lifted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 397,451 shares of the company's stock after buying an additional 30,000 shares during the period. Allegro MicroSystems makes up 5.1% of S Squared Technology LLC's holdings, making the stock its 7th biggest position. S Squared Technology LLC owned 0.22% of Allegro MicroSystems worth $9,988,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Invesco Ltd. lifted its stake in Allegro MicroSystems by 131.5% in the 1st quarter. Invesco Ltd. now owns 4,835,641 shares of the company's stock worth $121,520,000 after purchasing an additional 2,746,880 shares in the last quarter. Wellington Management Group LLP lifted its position in Allegro MicroSystems by 30.5% during the fourth quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company's stock worth $87,302,000 after buying an additional 934,048 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Allegro MicroSystems by 6.4% during the first quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company's stock worth $60,717,000 after buying an additional 144,824 shares during the last quarter. Millennium Management LLC grew its holdings in Allegro MicroSystems by 81.4% in the 1st quarter. Millennium Management LLC now owns 2,402,978 shares of the company's stock valued at $60,387,000 after buying an additional 1,078,025 shares in the last quarter. Finally, Woodline Partners LP grew its holdings in Allegro MicroSystems by 18.4% in the 4th quarter. Woodline Partners LP now owns 1,833,705 shares of the company's stock valued at $40,085,000 after buying an additional 285,573 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%

Shares of ALGM stock traded down $0.17 during trading hours on Friday, hitting $29.80. The company had a trading volume of 1,146,788 shares, compared to its average volume of 1,392,430. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. The stock has a market capitalization of $5.51 billion, a PE ratio of -80.54 and a beta of 1.74. The company's fifty day moving average is $32.57 and its 200 day moving average is $28.03. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $38.45.

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

Analysts Set New Price Targets

ALGM has been the topic of several analyst reports. Barclays lifted their price target on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Morgan Stanley decreased their target price on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a report on Friday, August 1st. TD Cowen dropped their price target on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a research note on Friday, August 1st. Wells Fargo & Company reaffirmed an "overweight" rating and set a $42.00 price target (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Finally, UBS Group increased their price objective on Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $36.78.

Insider Transactions at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was 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 directly owned 17,300 shares in the company, valued at $567,613. This trade represents a 32.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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.