Strs Ohio Takes $996,000 Position in Allegro MicroSystems, Inc. $ALGM

Strs Ohio purchased a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 29,122 shares of the company’s stock, valued at approximately $996,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of ALGM. UMB Bank n.a. grew its position in shares of Allegro MicroSystems by 29.2% in the 2nd quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after acquiring an additional 415 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Allegro MicroSystems by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 200,781 shares of the company’s stock valued at $6,865,000 after acquiring an additional 668 shares in the last quarter. Teacher Retirement System of Texas lifted its stake in Allegro MicroSystems by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 19,573 shares of the company’s stock worth $669,000 after purchasing an additional 745 shares during the last quarter. CWM LLC boosted its holdings in Allegro MicroSystems by 22.2% in the first quarter. CWM LLC now owns 4,299 shares of the company’s stock worth $108,000 after purchasing an additional 781 shares during the period. Finally, Xponance Inc. increased its stake in Allegro MicroSystems by 5.4% during the first quarter. Xponance Inc. now owns 15,668 shares of the company’s stock valued at $394,000 after purchasing an additional 806 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Roald Graham Webster sold 8,266 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the transaction, the chief accounting officer owned 17,300 shares of the company’s stock, valued at $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.40% of the stock is owned by corporate insiders.

Allegro MicroSystems Trading Down 0.8%

Allegro MicroSystems stock opened at $27.21 on Friday. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $38.45. 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 stock has a market capitalization of $5.04 billion, a PE ratio of -73.54 and a beta of 1.72. The firm has a 50 day simple moving average of $29.65 and a 200-day simple moving average of $29.43.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.08 earnings per share. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. As a group, equities research analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on ALGM. UBS Group raised their price target on shares of Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Bank of America cut their target price 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. Needham & Company LLC lifted their target price on Allegro MicroSystems from $25.00 to $37.00 and gave the company a “buy” rating in a research note on Thursday, July 31st. Wells Fargo & Company reiterated an “overweight” rating and set a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Finally, Mizuho raised their price target on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.10.

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.