Praxis Investment Management Inc. Invests $225,000 in Allegro MicroSystems, Inc. $ALGM

Praxis Investment Management Inc. purchased a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 6,590 shares of the company’s stock, valued at approximately $225,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGM. GAMMA Investing LLC grew its position in shares of Allegro MicroSystems by 144.3% during the 1st quarter. GAMMA Investing LLC now owns 4,155 shares of the company’s stock worth $104,000 after buying an additional 2,454 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock worth $33,000 after buying an additional 504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Allegro MicroSystems by 18.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company’s stock worth $668,000 after buying an additional 4,185 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Allegro MicroSystems by 1,647.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 394,572 shares of the company’s stock worth $10,330,000 after buying an additional 371,987 shares in the last quarter. Finally, Lisanti Capital Growth LLC bought a new position in shares of Allegro MicroSystems during the 1st quarter worth $1,987,000. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Trading Down 0.9%

Allegro MicroSystems stock opened at $29.06 on Monday. The stock has a 50-day moving average of $30.05 and a two-hundred day moving average of $28.59. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $38.45. The stock has a market cap of $5.38 billion, a PE ratio of -78.54 and a beta of 1.72.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, meeting 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 company had revenue of $203.41 million during the quarter, compared to analysts’ expectations of $197.82 million. During the same period last year, the business posted $0.03 earnings per share. The firm’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, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the sale, the chief accounting officer directly owned 17,300 shares in the company, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on ALGM. Morgan Stanley dropped their price target on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, August 1st. Mizuho upped their price objective on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Needham & Company LLC upped their price objective on Allegro MicroSystems from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Finally, Barclays upped their price objective on Allegro MicroSystems from $23.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.78.

About Allegro MicroSystems

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.