Prentiss Smith & Co. Inc. Takes Position in Allegro MicroSystems, Inc. $ALGM

Prentiss Smith & Co. Inc. purchased a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 25,060 shares of the company’s stock, valued at approximately $732,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. CWM LLC boosted its holdings in Allegro MicroSystems by 363.6% in the 3rd quarter. CWM LLC now owns 17,046 shares of the company’s stock worth $498,000 after buying an additional 13,369 shares during the last quarter. Pacer Advisors Inc. purchased a new position in shares of Allegro MicroSystems in the third quarter valued at approximately $476,000. Vontobel Holding Ltd. acquired a new stake in shares of Allegro MicroSystems in the third quarter worth approximately $518,000. Voya Investment Management LLC increased its position in shares of Allegro MicroSystems by 31.5% during the third quarter. Voya Investment Management LLC now owns 942,076 shares of the company’s stock worth $27,509,000 after purchasing an additional 225,633 shares in the last quarter. Finally, Corient Private Wealth LLC raised its stake in Allegro MicroSystems by 27.2% in the 2nd quarter. Corient Private Wealth LLC now owns 17,239 shares of the company’s stock valued at $589,000 after purchasing an additional 3,685 shares during the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $26.53 on Tuesday. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. The stock has a market cap of $4.91 billion, a P/E ratio of -165.81 and a beta of 1.62. The company has a 50-day moving average price of $27.29 and a 200 day moving average price of $30.14. The company has a current ratio of 3.89, a quick ratio of 2.48 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 3.60% and a positive return on equity of 2.90%. The company had revenue of $214.29 million for the quarter, compared to analyst estimates of $210.75 million. During the same period in the previous year, the business posted $0.08 EPS. Allegro MicroSystems’s revenue was up 14.4% on a year-over-year basis. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. Sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Cowen reaffirmed a “buy” rating on shares of Allegro MicroSystems in a research note on Friday, October 31st. Mizuho set a $38.00 price target on shares of Allegro MicroSystems in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Allegro MicroSystems in a research note on Monday, December 22nd. TD Cowen raised their target price on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Barclays boosted their target price on Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $38.78.

About Allegro MicroSystems

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.