Granahan Investment Management LLC Buys 125,144 Shares of Allegro MicroSystems, Inc. $ALGM

Granahan Investment Management LLC lifted its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 139.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 215,001 shares of the company’s stock after purchasing an additional 125,144 shares during the period. Granahan Investment Management LLC’s holdings in Allegro MicroSystems were worth $6,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of ALGM. Entropy Technologies LP increased its holdings in Allegro MicroSystems by 88.7% during the 1st quarter. Entropy Technologies LP now owns 67,719 shares of the company’s stock worth $2,135,000 after purchasing an additional 31,824 shares during the period. Sei Investments Co. raised its position in Allegro MicroSystems by 126.0% during the 1st quarter. Sei Investments Co. now owns 218,976 shares of the company’s stock valued at $6,904,000 after purchasing an additional 122,065 shares in the last quarter. State of Wyoming lifted its holdings in shares of Allegro MicroSystems by 29.7% in the 1st quarter. State of Wyoming now owns 13,834 shares of the company’s stock worth $436,000 after buying an additional 3,165 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Allegro MicroSystems by 18.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 13,949 shares of the company’s stock worth $440,000 after buying an additional 2,129 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Allegro MicroSystems by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,170,487 shares of the company’s stock worth $68,399,000 after buying an additional 30,340 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Trading Down 8.1%

Shares of NASDAQ ALGM opened at $46.03 on Friday. Allegro MicroSystems, Inc. has a 1-year low of $22.41 and a 1-year high of $71.77. The business has a fifty day moving average price of $51.85 and a 200 day moving average price of $42.14. The stock has a market capitalization of $8.58 billion, a P/E ratio of -511.39 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The company had revenue of $243.19 million for the quarter, compared to analyst estimates of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The firm’s quarterly revenue was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.06 earnings per share. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. Equities research analysts expect that Allegro MicroSystems, Inc. will post 0.77 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, SVP Richard Madormo sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $52.72, for a total value of $263,600.00. Following the sale, the senior vice president directly owned 69,687 shares in the company, valued at approximately $3,673,898.64. This trade represents a 6.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan D. Lynch sold 16,711 shares of Allegro MicroSystems stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $45.46, for a total transaction of $759,682.06. Following the completion of the transaction, the director directly owned 12,805 shares in the company, valued at approximately $582,115.30. The trade was a 56.62% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 68,607 shares of company stock worth $3,213,714. Insiders own 0.50% of the company’s stock.

Analyst Ratings Changes

ALGM has been the topic of several research reports. Needham & Company LLC raised their price target on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $62.00 price objective on shares of Allegro MicroSystems in a research note on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Barclays downgraded shares of Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 target price on the stock. in a research report on Monday, July 20th. Finally, Mizuho boosted their price target on shares of Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a report on Monday, June 29th. Nine research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.20.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.