Wellington Management Group LLP Increases Holdings in Allegro MicroSystems, Inc. $ALGM

Wellington Management Group LLP increased its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 21.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 814,937 shares of the company’s stock after buying an additional 141,841 shares during the quarter. Wellington Management Group LLP owned 0.44% of Allegro MicroSystems worth $56,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 42.8% in the 1st quarter. Parallel Advisors LLC now owns 1,008 shares of the company’s stock worth $32,000 after acquiring an additional 302 shares during the last quarter. Transamerica Financial Advisors LLC purchased a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at $27,000. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Allegro MicroSystems by 3.0% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock valued at $376,000 after purchasing an additional 419 shares during the last quarter. Rakuten Securities Inc. purchased a new position in Allegro MicroSystems in the 2nd quarter worth $31,000. Finally, State of Michigan Retirement System raised its position in Allegro MicroSystems by 2.0% in the 1st quarter. State of Michigan Retirement System now owns 29,900 shares of the company’s stock worth $943,000 after purchasing an additional 600 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Up 0.3%

Shares of NASDAQ ALGM opened at $35.56 on Friday. The firm’s 50-day moving average price is $45.92 and its 200-day moving average price is $43.19. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $71.77. The stock has a market capitalization of $6.63 billion, a price-to-earnings ratio of 592.77, a P/E/G ratio of 1.12 and a beta of 1.91. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. The company had revenue of $259.24 million during the quarter, compared to analyst estimates of $251.44 million. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. Allegro MicroSystems’s quarterly revenue was up 27.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.09 earnings per share. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the company’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $44.39, for a total value of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares in the company, valued at approximately $1,378,398.28. This represents a 6.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Mizuho decreased their price objective on shares of Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating for the company in a report on Friday, July 31st. Needham & Company LLC increased their price target on shares of Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Benchmark assumed coverage on shares of Allegro MicroSystems in a report on Wednesday, August 12th. They issued a “buy” rating and a $60.00 target price for the company. Finally, Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus target price of $53.45.

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.