Johnson Investment Counsel Inc. Invests $262,000 in Allegro MicroSystems, Inc. $ALGM

Johnson Investment Counsel Inc. acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,659 shares of the company’s stock, valued at approximately $262,000.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of Allegro MicroSystems by 29.2% during the 2nd quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after purchasing an additional 415 shares in the last quarter. Fifth Third Bancorp grew its position in shares of Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company’s stock worth $33,000 after purchasing an additional 504 shares in the last quarter. CWM LLC grew its position in shares of Allegro MicroSystems by 22.2% during the 1st quarter. CWM LLC now owns 4,299 shares of the company’s stock worth $108,000 after purchasing an additional 781 shares in the last quarter. Xponance Inc. grew its position in shares of Allegro MicroSystems by 5.4% during the 1st quarter. Xponance Inc. now owns 15,668 shares of the company’s stock worth $394,000 after purchasing an additional 806 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Allegro MicroSystems by 7.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 16,353 shares of the company’s stock worth $411,000 after purchasing an additional 1,092 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Mizuho increased their target price on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Needham & Company LLC increased their target price on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Barclays increased their target price on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Bank of America decreased their target price on shares of Allegro MicroSystems from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Friday, September 5th. Finally, Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Saturday, August 2nd. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.78.

Insider Activity

In other news, CAO Roald Graham Webster sold 8,266 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $567,613. This trade represents a 32.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.40% of the company’s stock.

Allegro MicroSystems Price Performance

ALGM stock opened at $28.88 on Thursday. The company has a fifty day moving average price of $30.12 and a 200-day moving average price of $28.48. The company has a market capitalization of $5.34 billion, a P/E ratio of -78.05 and a beta of 1.72. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $38.45. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.26 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $203.41 million during the quarter, compared to the consensus estimate of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The company’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.03 earnings per share. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, equities analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Allegro MicroSystems 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.