Sumitomo Mitsui Trust Group Inc. Buys 961 Shares of Allegro MicroSystems, Inc. $ALGM

Sumitomo Mitsui Trust Group Inc. grew its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 3.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,652 shares of the company’s stock after buying an additional 961 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Allegro MicroSystems were worth $1,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. boosted its stake in Allegro MicroSystems by 18.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company’s stock worth $668,000 after buying an additional 4,185 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Allegro MicroSystems by 144.3% during the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company’s stock valued at $104,000 after purchasing an additional 2,454 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Allegro MicroSystems in the 2nd quarter valued at approximately $481,000. Envestnet Asset Management Inc. increased its stake in shares of Allegro MicroSystems by 36.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 104,966 shares of the company’s stock worth $2,638,000 after acquiring an additional 28,179 shares in the last quarter. Finally, KLP Kapitalforvaltning AS raised its stake in Allegro MicroSystems by 10.4% during the second quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock valued at $940,000 after buying an additional 2,600 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

ALGM has been the subject of a number of recent analyst reports. Wells Fargo & Company reissued an “overweight” rating and issued a $42.00 target price (up previously from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Mizuho increased their price objective on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Morgan Stanley lowered their price target on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Finally, Barclays raised their price target on Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.10.

Insiders Place Their Bets

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the company’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 value of $271,207.46. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is owned by corporate insiders.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $29.92 on Friday. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $29.97 and a two-hundred day simple moving average of $29.18. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of -80.86 and a beta of 1.72. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $214.29 million for the quarter, compared to analysts’ expectations of $210.75 million. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.08 EPS. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. On average, analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

About Allegro MicroSystems

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.