Cetera Investment Advisers Has $236,000 Holdings in Allegro MicroSystems, Inc. $ALGM

Cetera Investment Advisers cut its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 28.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,392 shares of the company’s stock after selling 3,821 shares during the period. Cetera Investment Advisers’ holdings in Allegro MicroSystems were worth $236,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of ALGM. Fifth Third Bancorp lifted its position in Allegro MicroSystems by 63.7% during the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock worth $33,000 after purchasing an additional 504 shares during the period. UMB Bank n.a. lifted its position in Allegro MicroSystems by 68.6% during the first quarter. UMB Bank n.a. now owns 1,420 shares of the company’s stock worth $36,000 after purchasing an additional 578 shares during the period. TD Waterhouse Canada Inc. acquired a new position in Allegro MicroSystems during the fourth quarter worth about $40,000. DekaBank Deutsche Girozentrale acquired a new position in Allegro MicroSystems during the first quarter worth about $71,000. Finally, Quarry LP acquired a new position in Allegro MicroSystems during the fourth quarter worth about $79,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $30.88 on Friday. 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 firm has a market cap of $5.71 billion, a P/E ratio of -83.46 and a beta of 1.74. The stock’s 50 day moving average is $33.21 and its 200 day moving average is $27.33. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, hitting 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 business had revenue of $203.41 million during the quarter, compared to the consensus estimate of $197.82 million. During the same period in the previous year, the company posted $0.03 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, research analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on ALGM. Needham & Company LLC boosted their target price on Allegro MicroSystems from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Zacks Research raised Allegro MicroSystems to a “hold” rating in a research note on Monday, August 11th. TD Cowen reduced their price target on Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating on the stock in a report on Friday, August 1st. Mizuho boosted their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company restated an “overweight” rating and set a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $37.56.

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.