Maverick Capital Ltd. Makes New Investment in Allegro MicroSystems, Inc. $ALGM

Maverick Capital Ltd. purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 42,224 shares of the company’s stock, valued at approximately $1,331,000.

A number of other hedge funds also recently made changes to their positions in ALGM. Parallel Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 42.8% during 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 period. Vanguard Personalized Indexing Management LLC increased its stake in Allegro MicroSystems by 3.0% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,268 shares of the company’s stock valued at $376,000 after acquiring an additional 419 shares during the period. State of Michigan Retirement System raised its position in Allegro MicroSystems by 2.0% in the first 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 in the last quarter. Caitong International Asset Management Co. Ltd raised its position in Allegro MicroSystems by 85.8% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,449 shares of the company’s stock worth $38,000 after purchasing an additional 669 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Allegro MicroSystems by 2.8% during the first quarter. Oregon Public Employees Retirement Fund now owns 25,437 shares of the company’s stock worth $802,000 after purchasing an additional 700 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Up 1.7%

NASDAQ ALGM opened at $46.80 on Tuesday. The stock’s 50 day simple moving average is $51.96 and its 200 day simple moving average is $42.34. Allegro MicroSystems, Inc. has a one year low of $22.41 and a one year high of $71.77. The firm has a market cap of $8.72 billion, a PE ratio of -519.94 and a beta of 1.90. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.45 and a quick ratio of 2.21.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.01. The firm had revenue of $243.19 million during the quarter, compared to the consensus estimate of $235.94 million. Allegro MicroSystems had a positive return on equity of 6.09% and a negative net margin of 1.67%.The business’s revenue for the quarter was up 26.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 EPS. Allegro MicroSystems has set its Q1 2027 guidance at 0.190-0.230 EPS. As a group, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALGM shares. Mizuho upped their price objective on Allegro MicroSystems from $54.00 to $67.00 and gave the company an “outperform” rating in a research note on Monday, June 29th. TD Cowen cut their target price on Allegro MicroSystems from $70.00 to $66.00 and set a “buy” rating for the company in a research report on Monday, July 13th. Wells Fargo & Company boosted their price target on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Barclays cut Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 price target on the stock. in a research report on Monday, July 20th. Finally, Needham & Company LLC lifted their price objective on Allegro MicroSystems from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Nine investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.20.

Insider Buying and Selling at Allegro MicroSystems

In related news, SVP Sharon Briansky sold 8,948 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $47.54, for a total transaction of $425,387.92. Following the transaction, the senior vice president owned 75,232 shares in the company, valued at $3,576,529.28. This represents a 10.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Roald Graham Webster sold 5,217 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the sale, the chief accounting officer directly owned 13,106 shares in the company, valued at approximately $588,197.28. This represents a 28.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 68,607 shares of company stock worth $3,213,714 over the last quarter. Corporate insiders own 0.50% of the company’s stock.

Allegro MicroSystems Company 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.