State of Alaska Department of Revenue Sells 390 Shares of Allegro MicroSystems, Inc. $ALGM

State of Alaska Department of Revenue lessened its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 2.6% during the 2nd quarter, Holdings Channel reports. The fund owned 14,672 shares of the company’s stock after selling 390 shares during the period. State of Alaska Department of Revenue’s holdings in Allegro MicroSystems were worth $501,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. boosted its position 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 worth $121,520,000 after purchasing an additional 2,746,880 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Allegro MicroSystems by 6.4% during the 1st quarter. Principal Financial Group Inc. now owns 2,416,102 shares of the company’s stock valued at $60,717,000 after buying an additional 144,824 shares during the last quarter. Millennium Management LLC increased its stake 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 in the last quarter. Kodai Capital Management LP purchased a new position 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 Allegro MicroSystems during the 1st quarter worth approximately $32,959,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Up 2.8%

Allegro MicroSystems stock opened at $28.28 on Thursday. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year 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 cap of $5.23 billion, a PE ratio of -76.43 and a beta of 1.72. The stock’s fifty day moving average is $30.49 and its two-hundred day moving average is $28.44.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Allegro MicroSystems had a positive return on equity of 2.09% and a negative net margin of 9.00%.The business 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 earned $0.03 earnings per share. The business’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. On average, sell-side analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Insider Activity at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Barclays upped their price target on Allegro MicroSystems from $23.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Zacks Research upgraded Allegro MicroSystems to a “hold” rating in a research report on Monday, August 11th. Wells Fargo & Company restated 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. Morgan Stanley lowered their price target on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Eight analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.78.

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.