UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $22.51 Million Stake in Allegro MicroSystems, Inc. $ALGM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 6.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 323,297 shares of the company’s stock after selling 21,760 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.17% of Allegro MicroSystems worth $22,508,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in ALGM. State of Wyoming bought a new stake in shares of Allegro MicroSystems during the second quarter valued at approximately $2,247,000. Norges Bank acquired a new stake in shares of Allegro MicroSystems in the 4th quarter valued at $38,457,000. Nippon Life Global Investors Americas Inc. acquired a new position in Allegro MicroSystems during the 2nd quarter valued at about $10,016,000. Bank of America Corp DE lifted its holdings in Allegro MicroSystems by 48.3% in the first quarter. Bank of America Corp DE now owns 855,453 shares of the company’s stock valued at $26,972,000 after buying an additional 278,798 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in shares of Allegro MicroSystems during the first quarter worth $1,331,000. Institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ALGM shares. Mizuho reduced their target price on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Morgan Stanley upped their target price on shares of Allegro MicroSystems from $51.00 to $52.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Needham & Company LLC raised their price target on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen decreased their price target on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, July 31st. Finally, Wells Fargo & Company raised their price objective on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $53.45.

Allegro MicroSystems Stock Up 3.0%

Allegro MicroSystems stock opened at $36.61 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70. The firm has a market cap of $6.82 billion, a price-to-earnings ratio of 610.27, a PEG ratio of 1.12 and a beta of 1.91. The firm has a 50 day moving average price of $45.49 and a two-hundred day moving average price of $43.15. Allegro MicroSystems, Inc. has a 52-week low of $22.41 and a 52-week high of $71.77.

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

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the sale, the senior vice president owned 31,052 shares of the company’s stock, valued at $1,378,398.28. The trade was a 6.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.

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.