Mitsubishi UFJ Asset Management Co. Ltd. Sells 31,601 Shares of Allegro MicroSystems, Inc. $ALGM

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 29.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,366 shares of the company’s stock after selling 31,601 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Allegro MicroSystems were worth $2,001,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ALGM. Hantz Financial Services Inc. raised its stake in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after buying an additional 419 shares during the period. Quent Capital LLC purchased a new position in shares of Allegro MicroSystems in the third quarter valued at $28,000. Farther Finance Advisors LLC grew its position in shares of Allegro MicroSystems by 815.4% in the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company’s stock valued at $57,000 after purchasing an additional 1,908 shares in the last quarter. SBI Securities Co. Ltd. grew its position in shares of Allegro MicroSystems by 343.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 2,301 shares of the company’s stock valued at $61,000 after purchasing an additional 1,782 shares in the last quarter. Finally, NewEdge Advisors LLC grew its position in shares of Allegro MicroSystems by 12,315.0% in the third quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock valued at $73,000 after purchasing an additional 2,463 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $48.39 on Tuesday. Allegro MicroSystems, Inc. has a 52 week low of $22.41 and a 52 week high of $51.40. The business has a 50-day simple moving average of $36.88 and a 200 day simple moving average of $33.05. The company has a quick ratio of 2.21, a current ratio of 3.45 and a debt-to-equity ratio of 0.30. The stock has a market cap of $8.97 billion, a price-to-earnings ratio of -537.61 and a beta of 2.02.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, May 7th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.16 by $0.01. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The business had revenue of $243.19 million during the quarter, compared to analysts’ expectations of $235.94 million. During the same period in the previous year, the business earned $0.06 earnings per share. The firm’s revenue was up 26.1% on a year-over-year basis. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. On average, research analysts forecast that Allegro MicroSystems, Inc. will post 0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Allegro MicroSystems in a research report on Wednesday, May 6th. Mizuho lifted their price target on Allegro MicroSystems from $44.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price target for the company in a research report on Friday, February 13th. Finally, TD Cowen lifted their price target on Allegro MicroSystems from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Ten analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Allegro MicroSystems has an average rating of “Moderate Buy” and a consensus price target of $51.80.

Allegro MicroSystems Company 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.