MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Stake in Allegro MicroSystems, Inc. $ALGM

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 12.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 157,197 shares of the company’s stock after purchasing an additional 16,952 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.09% of Allegro MicroSystems worth $3,950,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Alliancebernstein L.P. lifted its holdings in Allegro MicroSystems by 80.6% during the 1st quarter. Alliancebernstein L.P. now owns 953,689 shares of the company’s stock worth $23,966,000 after purchasing an additional 425,516 shares in the last quarter. AQR Capital Management LLC purchased a new stake in Allegro MicroSystems during the 1st quarter worth about $325,000. Advisors Asset Management Inc. lifted its holdings in Allegro MicroSystems by 18.4% during the 1st quarter. Advisors Asset Management Inc. now owns 22,672 shares of the company’s stock worth $570,000 after purchasing an additional 3,523 shares in the last quarter. Alyeska Investment Group L.P. lifted its holdings in Allegro MicroSystems by 10.5% during the 1st quarter. Alyeska Investment Group L.P. now owns 469,589 shares of the company’s stock worth $11,801,000 after purchasing an additional 44,588 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Allegro MicroSystems by 70.0% during the 1st quarter. Royal Bank of Canada now owns 117,923 shares of the company’s stock worth $2,964,000 after purchasing an additional 48,554 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALGM. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Wells Fargo & Company restated an “overweight” rating and issued a $42.00 target price (up from $33.00) on shares of Allegro MicroSystems in a research note on Wednesday, July 16th. Zacks Research upgraded Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. TD Cowen cut their price objective on Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating for the company in a report on Friday, August 1st. Finally, Barclays upped their price objective on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Eight research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Allegro MicroSystems has an average rating of “Moderate Buy” and an average price target of $36.78.

Allegro MicroSystems Trading Down 0.6%

ALGM stock opened at $29.80 on Friday. The company has a market capitalization of $5.51 billion, a PE ratio of -80.54 and a beta of 1.74. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45. The company’s 50 day moving average price is $32.57 and its two-hundred day moving average price is $27.95.

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

Insider Activity at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 8,266 shares of the company’s stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the sale, the chief accounting officer directly owned 17,300 shares in the company, valued at $567,613. This represents a 32.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by insiders.

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.