Itau Unibanco Holding S.A. Buys Shares of 70,000 Allegro MicroSystems, Inc. $ALGM

Itau Unibanco Holding S.A. acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 70,000 shares of the company’s stock, valued at approximately $2,393,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Allegro MicroSystems by 8.9% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 45,882 shares of the company’s stock worth $1,569,000 after buying an additional 3,744 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Allegro MicroSystems by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 2,405,986 shares of the company’s stock valued at $82,274,000 after acquiring an additional 17,902 shares during the period. Robeco Schweiz AG purchased a new stake in shares of Allegro MicroSystems during the 2nd quarter worth approximately $1,539,000. Lisanti Capital Growth LLC raised its holdings in shares of Allegro MicroSystems by 39.1% in the 2nd quarter. Lisanti Capital Growth LLC now owns 109,975 shares of the company’s stock worth $3,760,000 after purchasing an additional 30,920 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Allegro MicroSystems in the second quarter valued at approximately $1,440,000. 56.45% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on ALGM. Morgan Stanley lowered their target price on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, August 1st. Bank of America dropped their price objective on shares of Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, September 5th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Allegro MicroSystems in a research note on Thursday. Zacks Research upgraded shares of Allegro MicroSystems to a “hold” rating in a research note on Monday, August 11th. Finally, Cowen reiterated a “buy” rating on shares of Allegro MicroSystems in a research note on Friday, October 31st. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $39.00.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $24.71 on Friday. The stock has a market cap of $4.57 billion, a price-to-earnings ratio of -66.78 and a beta of 1.72. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $29.15 and a 200 day simple moving average of $29.85. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45.

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

Insider Buying and Selling

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of Allegro MicroSystems stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $32.81, for a total transaction of $271,207.46. Following the completion of the sale, the chief accounting officer owned 17,300 shares of the company’s stock, valued at $567,613. The trade was a 32.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

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.