Bayforest Capital Ltd Acquires Shares of 19,000 Allegro MicroSystems, Inc. $ALGM

Bayforest Capital Ltd acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 19,000 shares of the company’s stock, valued at approximately $650,000.

A number of other hedge funds have also bought and sold shares of the company. UMB Bank n.a. increased its position in Allegro MicroSystems by 29.2% during the second quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock valued at $63,000 after acquiring an additional 415 shares during the last quarter. Fifth Third Bancorp increased its position in Allegro MicroSystems by 63.7% during the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock valued at $33,000 after acquiring an additional 504 shares during the last quarter. CWM LLC increased its position in Allegro MicroSystems by 22.2% during the first quarter. CWM LLC now owns 4,299 shares of the company’s stock valued at $108,000 after acquiring an additional 781 shares during the last quarter. Xponance Inc. increased its position in Allegro MicroSystems by 5.4% during the first quarter. Xponance Inc. now owns 15,668 shares of the company’s stock valued at $394,000 after acquiring an additional 806 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Allegro MicroSystems by 7.2% during the first quarter. PNC Financial Services Group Inc. now owns 16,353 shares of the company’s stock valued at $411,000 after acquiring an additional 1,092 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

ALGM opened at $27.41 on Tuesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.70 and a quick ratio of 2.26. The firm has a fifty day moving average price of $30.23 and a 200 day moving average price of $28.48. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $38.45. The stock has a market cap of $5.07 billion, a P/E ratio of -74.08 and a beta of 1.72.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $203.41 million during the quarter, compared to analysts’ expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. Equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at Allegro MicroSystems

In other news, CAO Roald Graham Webster sold 8,266 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the transaction, the chief accounting officer owned 17,300 shares in the company, valued at approximately $567,613. This trade represents a 32.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ALGM shares. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. UBS Group boosted their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Morgan Stanley cut their price target on shares of Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Wells Fargo & Company reissued an “overweight” rating and issued a $42.00 price target (up previously from $33.00) on shares of Allegro MicroSystems in a research note on Wednesday, July 16th. Finally, Bank of America lowered their price objective on shares of Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating for the company in a research report on Friday, September 5th. Eight equities research 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 data from MarketBeat.com, Allegro MicroSystems currently has an average rating of “Moderate Buy” and an average price target of $36.78.

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.