Allegro MicroSystems, Inc. $ALGM Shares Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 10.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,500 shares of the company’s stock after acquiring an additional 2,600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Allegro MicroSystems were worth $940,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. lifted its holdings in shares of Allegro MicroSystems by 131.5% in the 1st quarter. Invesco Ltd. now owns 4,835,641 shares of the company’s stock valued at $121,520,000 after purchasing an additional 2,746,880 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Allegro MicroSystems by 6.4% in the 1st quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company’s stock valued at $60,717,000 after purchasing an additional 144,824 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Allegro MicroSystems by 81.4% in the 1st quarter. Millennium Management LLC now owns 2,402,978 shares of the company’s stock valued at $60,387,000 after purchasing an additional 1,078,025 shares during the last quarter. Kodai Capital Management LP purchased a new stake in shares of Allegro MicroSystems in the 1st quarter valued at about $41,610,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in shares of Allegro MicroSystems in the 1st quarter valued at about $32,959,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $28.88 on Thursday. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $30.12 and its two-hundred day moving average is $28.48. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of -78.05 and a beta of 1.72.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The company had revenue of $203.41 million for the quarter, compared to analysts’ expectations of $197.82 million. During the same quarter in the previous year, the firm posted $0.03 EPS. The firm’s quarterly 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. Research analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Insider Transactions at Allegro MicroSystems

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the transaction, the chief accounting officer owned 17,300 shares in the company, valued at approximately $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ALGM shares. Wells Fargo & Company reissued an “overweight” rating and issued a $42.00 target price (up from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Morgan Stanley reduced 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. Bank of America reduced their target price on Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating for the company in a report on Friday, September 5th. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Mizuho upped their price objective on Allegro MicroSystems from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $36.78.

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.