Banque Pictet & Cie SA Sells 900 Shares of Allegro MicroSystems, Inc. $ALGM

Banque Pictet & Cie SA trimmed its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 6.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,389 shares of the company’s stock after selling 900 shares during the quarter. Banque Pictet & Cie SA’s holdings in Allegro MicroSystems were worth $458,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp grew its position in Allegro MicroSystems by 63.7% during the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock valued at $33,000 after buying an additional 504 shares during the period. UMB Bank n.a. lifted its holdings in Allegro MicroSystems by 68.6% during the first quarter. UMB Bank n.a. now owns 1,420 shares of the company’s stock valued at $36,000 after purchasing an additional 578 shares in the last quarter. DekaBank Deutsche Girozentrale purchased a new position in Allegro MicroSystems during the first quarter valued at approximately $71,000. Summit Securities Group LLC lifted its holdings in Allegro MicroSystems by 257.8% during the first quarter. Summit Securities Group LLC now owns 4,000 shares of the company’s stock valued at $101,000 after purchasing an additional 2,882 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Allegro MicroSystems by 144.3% during the first 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. 56.45% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CAO Roald Graham Webster sold 8,266 shares of the business’s stock in a transaction 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group lifted their price target on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a “buy” rating in a report on Monday, July 7th. Barclays lifted their price target on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Needham & Company LLC lifted their price target on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, July 31st. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Finally, Bank of America lowered their price target on shares of Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Eight equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $36.78.

Allegro MicroSystems Price Performance

ALGM stock opened at $29.71 on Friday. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45. The company’s fifty day moving average price is $31.45 and its 200-day moving average price is $28.36. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. The company has a market capitalization of $5.50 billion, a PE ratio of -80.30 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM) last released its 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 firm had revenue of $203.41 million for the quarter, compared to the consensus estimate of $197.82 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The company’s quarterly 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. On average, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS 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.