Mutual of America Capital Management LLC Decreases Stake in Allegro MicroSystems, Inc. $ALGM

Mutual of America Capital Management LLC reduced its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 3.4% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,011 shares of the company’s stock after selling 2,272 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Allegro MicroSystems were worth $2,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Praxis Investment Management Inc. purchased a new position in shares of Allegro MicroSystems in the 2nd quarter valued at approximately $225,000. Bayforest Capital Ltd purchased a new position in shares of Allegro MicroSystems in the 2nd quarter valued at approximately $650,000. Johnson Investment Counsel Inc. purchased a new position in shares of Allegro MicroSystems in the 2nd quarter valued at approximately $262,000. Maryland State Retirement & Pension System purchased a new position in shares of Allegro MicroSystems in the 2nd quarter valued at approximately $232,000. Finally, KLP Kapitalforvaltning AS raised its position in shares of Allegro MicroSystems by 10.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock valued at $940,000 after purchasing an additional 2,600 shares during the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Mizuho raised their price target on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Zacks Research raised shares of Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Barclays raised their price target 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. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Allegro MicroSystems in a research report on Friday. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.78.

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 dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.40% of the company’s stock.

Allegro MicroSystems Price Performance

NASDAQ:ALGM opened at $30.91 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 $5.72 billion, a price-to-earnings ratio of -83.54 and a beta of 1.72. The company has a 50 day moving average price of $30.03 and a 200-day moving average price of $28.90. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting 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 company had revenue of $203.41 million during the quarter, compared to analyst estimates of $197.82 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.01 EPS for the current 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.