Allegro MicroSystems, Inc. $ALGM Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC increased its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 0.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,405,986 shares of the company's stock after purchasing an additional 17,902 shares during the period. Geode Capital Management LLC owned approximately 1.30% of Allegro MicroSystems worth $82,274,000 at the end of the most recent reporting period.

• Shares Down, Price Targets Up: 3 Stocks Upgraded After +10% Drops

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. UMB Bank n.a. boosted its position in shares of Allegro MicroSystems by 29.2% during the second quarter. UMB Bank n.a. now owns 1,835 shares of the company's stock worth $63,000 after buying an additional 415 shares during the period. Nisa Investment Advisors LLC lifted its stake in Allegro MicroSystems by 158.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company's stock worth $76,000 after acquiring an additional 1,356 shares in the last quarter. Summit Securities Group LLC boosted its holdings in Allegro MicroSystems by 257.8% during the 1st quarter. Summit Securities Group LLC now owns 4,000 shares of the company's stock valued at $101,000 after acquiring an additional 2,882 shares during the period. CWM LLC grew its position in Allegro MicroSystems by 22.2% in the 1st quarter. CWM LLC now owns 4,299 shares of the company's stock valued at $108,000 after acquiring an additional 781 shares in the last quarter. Finally, Quarry LP increased its stake in Allegro MicroSystems by 85.8% during the first quarter. Quarry LP now owns 6,689 shares of the company's stock worth $168,000 after purchasing an additional 3,088 shares during the period. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Trading Up 5.6%

Shares of NASDAQ:ALGM opened at $24.08 on Friday. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45. The company's 50 day moving average is $28.46 and its two-hundred day moving average is $30.00. The company has a market cap of $4.46 billion, a PE ratio of -65.08 and a beta of 1.72. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34.

• Better Than NVIDIA: Top 2 Semiconductor Stocks to Watch Today

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $214.29 million during the quarter, compared to the consensus estimate of $210.75 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The company's revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. Equities analysts predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Evercore ISI raised their price objective on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the company an "outperform" rating in a research note on Friday, October 31st. Wall Street Zen raised shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Weiss Ratings restated a "sell (e+)" rating on shares of Allegro MicroSystems in a research note on Wednesday. Morgan Stanley cut their price objective 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. Finally, TD Cowen lifted their target price on Allegro MicroSystems from $32.00 to $35.00 and gave the company a "buy" rating in a report on Friday, October 31st. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.00.

• Will Investors See Even Bigger Gains When Mobileye Reports Q1?

View Our Latest Analysis on ALGM

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.

Read More

• Five stocks we like better than Allegro MicroSystems
• 3 Warren Buffett Stocks to Buy Now
• MP Materials Stock Soared After Earnings—Here’s the Real Reason
• Using the MarketBeat Stock Split Calculator
• Why Palantir Slide May Be a Setup for a Long-Term Opportunity
• What Investors Must Know About Over-the-Counter (OTC) Stocks
• Attention Income Investors: This REIT Is on Sale

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Allegro MicroSystems Right Now?

Before you consider Allegro MicroSystems, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Allegro MicroSystems wasn't on the list.

While Allegro MicroSystems currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here