Goldman Sachs Group Inc. Sells 22,100 Shares of Allegro MicroSystems, Inc. $ALGM

Goldman Sachs Group Inc. lowered its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 10.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 189,914 shares of the company’s stock after selling 22,100 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.10% of Allegro MicroSystems worth $4,773,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALGM. Deutsche Bank AG grew its holdings in Allegro MicroSystems by 295.9% during the 4th quarter. Deutsche Bank AG now owns 26,237 shares of the company’s stock worth $574,000 after acquiring an additional 19,609 shares during the last quarter. Janus Henderson Group PLC lifted its position in Allegro MicroSystems by 11.9% during the 4th quarter. Janus Henderson Group PLC now owns 57,329 shares of the company’s stock valued at $1,255,000 after purchasing an additional 6,100 shares during the period. Nomura Holdings Inc. acquired a new position in Allegro MicroSystems during the 4th quarter valued at about $379,000. Quantinno Capital Management LP lifted its position in Allegro MicroSystems by 15.6% during the 4th quarter. Quantinno Capital Management LP now owns 18,011 shares of the company’s stock valued at $394,000 after purchasing an additional 2,436 shares during the period. Finally, Toronto Dominion Bank lifted its position in Allegro MicroSystems by 20.5% during the 4th quarter. Toronto Dominion Bank now owns 19,085 shares of the company’s stock valued at $417,000 after purchasing an additional 3,253 shares during the period. Institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Zacks Research upgraded shares of Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. Barclays upped their target price on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. TD Cowen cut their target price on shares of Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, August 1st. Finally, 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 note on Monday, July 7th. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Allegro MicroSystems has an average rating of “Moderate Buy” and an average price target of $36.78.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems 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 transaction, the chief accounting officer directly 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 SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by company insiders.

Allegro MicroSystems Price Performance

NASDAQ ALGM opened at $30.13 on Wednesday. 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, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. The company has a market capitalization of $5.58 billion, a PE ratio of -81.43 and a beta of 1.74. The firm’s 50 day moving average is $32.34 and its 200-day moving average is $28.09.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The business had revenue of $203.41 million during the quarter, compared to analysts’ expectations of $197.82 million. During the same period last year, the business earned $0.03 earnings per share. The firm’s revenue was up 21.9% on a year-over-year basis. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

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.