Peregrine Capital Management LLC Has $8.02 Million Stock Position in Allegro MicroSystems, Inc. $ALGM

Peregrine Capital Management LLC increased its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 16.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,477 shares of the company’s stock after purchasing an additional 39,552 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.15% of Allegro MicroSystems worth $8,015,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its position in shares of Allegro MicroSystems by 29.2% in the second quarter. UMB Bank n.a. now owns 1,835 shares of the company’s stock worth $63,000 after acquiring an additional 415 shares in the last quarter. Retirement Systems of Alabama grew its position in Allegro MicroSystems by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 200,781 shares of the company’s stock worth $6,865,000 after purchasing an additional 668 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Allegro MicroSystems by 4.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 19,573 shares of the company’s stock valued at $669,000 after purchasing an additional 745 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Allegro MicroSystems by 3.1% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 31,652 shares of the company’s stock valued at $1,082,000 after purchasing an additional 961 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Allegro MicroSystems by 158.8% in the second quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock worth $76,000 after buying an additional 1,356 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ALGM. Wall Street Zen lowered Allegro MicroSystems from a “buy” rating to a “hold” rating in a research report on Saturday. Evercore ISI lifted their target price on Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. UBS Group upped their target price on Allegro MicroSystems from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 31st. TD Cowen raised their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Allegro MicroSystems in a research note on Monday, December 29th. Nine equities research 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. According to data from MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and an average price target of $38.78.

Allegro MicroSystems Stock Down 0.0%

ALGM opened at $31.29 on Friday. The company has a market capitalization of $5.79 billion, a PE ratio of -195.56 and a beta of 1.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.89 and a quick ratio of 2.48. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $38.45. The business has a 50-day moving average of $26.97 and a 200-day moving average of $30.03.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. The firm had revenue of $214.29 million for the quarter, compared to the consensus estimate of $210.75 million. Allegro MicroSystems had a positive return on equity of 2.90% and a negative net margin of 3.60%.The firm’s revenue was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. Equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Allegro MicroSystems 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.