Wellington Management Group LLP Has $81.65 Million Holdings in Allegro MicroSystems, Inc. $ALGM

Key Points

• Wellington Management Group LLP reduced its stake in Allegro MicroSystems, Inc. by 18.6%, holding approximately $81.65 million worth of shares after selling 744,792 during the first quarter.
• The company reported earnings of $0.09 per share for the last quarter, matching analysts' expectations, with revenue of $203.41 million representing a 21.9% year-over-year increase.
• Several analysts have upgraded their ratings on Allegro MicroSystems, with price targets ranging from $30.00 to $45.00, reflecting bullish sentiment on the stock.

Wellington Management Group LLP cut its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 18.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,248,890 shares of the company's stock after selling 744,792 shares during the quarter. Wellington Management Group LLP owned about 1.76% of Allegro MicroSystems worth $81,645,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Invesco Ltd. grew its stake in shares of 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 in the last quarter. Principal Financial Group Inc. grew its stake in shares of Allegro MicroSystems by 6.4% in the first quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company's stock valued at $60,717,000 after buying an additional 144,824 shares in the last quarter. Paloma Partners Management Co grew its stake in shares of Allegro MicroSystems by 312.8% in the fourth quarter. Paloma Partners Management Co now owns 2,103,800 shares of the company's stock valued at $45,989,000 after buying an additional 1,594,170 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Allegro MicroSystems by 31.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,065,879 shares of the company's stock valued at $45,161,000 after buying an additional 491,173 shares in the last quarter. Finally, Woodline Partners LP grew its stake in shares of Allegro MicroSystems by 18.4% in the fourth 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. 56.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALGM shares. Bank of America lifted their price objective on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the stock an "action list buy" rating in a research report on Thursday, July 10th. Zacks Research raised shares of Allegro MicroSystems to a "hold" rating in a research report on Monday, August 11th. UBS Group lifted their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Morgan Stanley reduced their price objective on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating for the company in a research report on Friday, August 1st. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $42.00 price objective (up from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. One equities 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. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $37.56.

Insider Buying and Selling

In related news, CAO Roald Graham Webster sold 8,266 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value 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 $567,613. The trade was a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.40% of the stock is currently owned by company insiders.

Allegro MicroSystems Stock Performance

Shares of Allegro MicroSystems stock traded up $1.52 during trading on Thursday, reaching $32.98. The company's stock had a trading volume of 432,493 shares, compared to its average volume of 2,737,313. The business's 50-day moving average price is $33.32 and its 200-day moving average price is $27.53. The firm has a market cap of $6.10 billion, a PE ratio of -88.93 and a beta of 1.74. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45. 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 (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. The company had revenue of $203.41 million during the quarter, compared to analysts' expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. Allegro MicroSystems's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities analysts forecast that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Allegro MicroSystems Company 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.