Allegro MicroSystems, Inc. $ALGM Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP lifted its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 21.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 814,937 shares of the company’s stock after purchasing an additional 141,841 shares during the quarter. Wellington Management Group LLP’s holdings in Allegro MicroSystems were worth $56,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Transamerica Financial Advisors LLC purchased a new stake in Allegro MicroSystems in the 2nd quarter worth approximately $27,000. Rakuten Securities Inc. purchased a new stake in shares of Allegro MicroSystems in the second quarter valued at approximately $31,000. Parallel Advisors LLC grew its holdings in shares of Allegro MicroSystems by 42.8% in the first quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock valued at $32,000 after purchasing an additional 302 shares during the period. Kestra Advisory Services LLC purchased a new position in Allegro MicroSystems in the fourth quarter worth approximately $34,000. Finally, CIBC Private Wealth Group LLC increased its position in shares of Allegro MicroSystems by 14,844.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,345 shares of the company’s stock valued at $35,000 after acquiring an additional 1,336 shares during the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Up 0.3%

ALGM opened at $35.56 on Friday. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $71.77. The business has a 50 day moving average price of $45.92 and a two-hundred day moving average price of $43.19. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. The company has a market cap of $6.63 billion, a PE ratio of 592.77, a P/E/G ratio of 1.12 and a beta of 1.91.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The business had revenue of $259.24 million during the quarter, compared to analysts’ expectations of $251.44 million. During the same quarter in the prior year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 27.5% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Insider Activity

In other news, SVP Erin Hagen sold 2,285 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the transaction, the senior vice president directly owned 31,052 shares in the company, valued at $1,378,398.28. The trade was a 6.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on ALGM shares. TD Cowen dropped their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a report on Friday, July 31st. Jefferies Financial Group reissued a “buy” rating and set a $62.00 price objective on shares of Allegro MicroSystems in a report on Thursday, May 7th. Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Evercore restated an “outperform” rating and issued a $53.00 target price on shares of Allegro MicroSystems in a report on Friday, May 8th. Finally, Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allegro MicroSystems presently has an average rating of “Moderate Buy” and a consensus price target of $53.45.

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.