California State Teachers Retirement System Acquires 26,828 Shares of Allegro MicroSystems, Inc. $ALGM

California State Teachers Retirement System lifted its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 21.8% in the 1st quarter, Holdings Channel reports. The firm owned 149,826 shares of the company’s stock after acquiring an additional 26,828 shares during the period. California State Teachers Retirement System’s holdings in Allegro MicroSystems were worth $4,724,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ALGM. Maverick Capital Ltd. bought a new position in shares of Allegro MicroSystems in the 1st quarter worth $1,331,000. Quantinno Capital Management LP lifted its holdings in shares of Allegro MicroSystems by 104.9% during the 1st quarter. Quantinno Capital Management LP now owns 133,902 shares of the company’s stock worth $4,222,000 after acquiring an additional 68,549 shares during the last quarter. Castleark Management LLC purchased a new position in Allegro MicroSystems in the first quarter worth $4,648,000. Granahan Investment Management LLC grew its position in Allegro MicroSystems by 139.3% in the first quarter. Granahan Investment Management LLC now owns 215,001 shares of the company’s stock worth $6,779,000 after acquiring an additional 125,144 shares in the last quarter. Finally, Entropy Technologies LP increased its stake in Allegro MicroSystems by 88.7% in the first quarter. Entropy Technologies LP now owns 67,719 shares of the company’s stock valued at $2,135,000 after acquiring an additional 31,824 shares during the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALGM. Needham & Company LLC lifted their price target on Allegro MicroSystems from $55.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Wells Fargo & Company increased their price objective on Allegro MicroSystems from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Mizuho decreased their price objective on Allegro MicroSystems from $67.00 to $58.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. Barclays downgraded Allegro MicroSystems from an “overweight” rating to an “equal weight” rating and set a $48.00 target price for the company. in a research report on Monday, July 20th. Finally, TD Cowen cut their target price on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Nine analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $52.80.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $43.77 on Friday. The company has a 50-day simple moving average of $51.17 and a two-hundred day simple moving average of $42.95. The company has a quick ratio of 2.33, a current ratio of 3.70 and a debt-to-equity ratio of 0.30. Allegro MicroSystems, Inc. has a 12-month low of $22.41 and a 12-month high of $71.77. The firm has a market cap of $8.16 billion, a price-to-earnings ratio of 729.62, a PEG ratio of 1.34 and a beta of 1.94.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a return on equity of 8.30% and a net margin of 1.50%.The firm had revenue of $259.24 million for the quarter, compared to the consensus estimate of $251.44 million. During the same quarter in the previous year, the business earned $0.09 earnings per share. The company’s quarterly revenue was up 27.5% on a year-over-year basis. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, equities analysts forecast 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 Sharon Briansky sold 8,948 shares of Allegro MicroSystems stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $47.54, for a total value of $425,387.92. Following the transaction, the senior vice president directly owned 75,232 shares of the company’s stock, valued at $3,576,529.28. The trade was a 10.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Madormo sold 5,000 shares of Allegro MicroSystems stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $52.72, for a total value of $263,600.00. Following the completion of the transaction, the senior vice president directly owned 69,687 shares in the company, valued at $3,673,898.64. This trade represents a 6.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 68,607 shares of company stock worth $3,213,714 over the last quarter. Company 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.