Allegro MicroSystems, Inc. $ALGM Shares Sold by GAMMA Investing LLC

GAMMA Investing LLC decreased its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 31.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,869 shares of the company’s stock after selling 1,286 shares during the period. GAMMA Investing LLC’s holdings in Allegro MicroSystems were worth $98,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its holdings in Allegro MicroSystems by 29.2% in the second quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after purchasing an additional 415 shares during the period. Voya Investment Management LLC lifted its position in shares of Allegro MicroSystems by 4,384.6% in the 1st quarter. Voya Investment Management LLC now owns 669,012 shares of the company’s stock worth $16,812,000 after buying an additional 654,094 shares during the last quarter. Osterweis Capital Management Inc. acquired a new stake in Allegro MicroSystems during the first quarter worth about $4,506,000. Rhumbline Advisers raised its stake in Allegro MicroSystems by 1.4% during the first quarter. Rhumbline Advisers now owns 330,263 shares of the company’s stock worth $8,299,000 after acquiring an additional 4,428 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Allegro MicroSystems by 31.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 354,610 shares of the company’s stock worth $8,911,000 after acquiring an additional 85,607 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Insider Activity at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of the firm’s stock in a transaction that occurred 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 owned 17,300 shares of the company’s stock, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

ALGM has been the subject of several recent research reports. Morgan Stanley lowered their target price on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, August 1st. Zacks Research upgraded Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. Barclays raised their target price on Allegro MicroSystems from $23.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. TD Cowen cut their target price on Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, August 1st. Finally, Mizuho increased their price objective on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Eight investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.78.

Allegro MicroSystems Stock Performance

Shares of NASDAQ ALGM opened at $28.42 on Thursday. The business’s 50-day moving average price is $31.05 and its two-hundred day moving average price is $28.40. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45. The company has a market capitalization of $5.26 billion, a P/E ratio of -76.81 and a beta of 1.72.

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

Allegro MicroSystems Company 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.