Keybank National Association OH Acquires 2,290 Shares of Allegro MicroSystems, Inc. $ALGM

Keybank National Association OH boosted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 13.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,415 shares of the company’s stock after purchasing an additional 2,290 shares during the quarter. Keybank National Association OH’s holdings in Allegro MicroSystems were worth $664,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. UMB Bank n.a. increased its holdings in 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 purchasing an additional 415 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in 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 purchasing an additional 1,356 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Allegro MicroSystems during the first quarter valued at approximately $71,000. Summit Securities Group LLC increased its holdings in shares of Allegro MicroSystems by 257.8% during the first quarter. Summit Securities Group LLC now owns 4,000 shares of the company’s stock valued at $101,000 after acquiring an additional 2,882 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Allegro MicroSystems by 144.3% during the first quarter. GAMMA Investing LLC now owns 4,155 shares of the company’s stock worth $104,000 after purchasing an additional 2,454 shares during the period. 56.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALGM has been the topic of a number of research reports. TD Cowen upped their target price on Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday. Mizuho upped their target price on Allegro MicroSystems from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. UBS Group upped their target price on Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $42.00 target price (up from $33.00) on shares of Allegro MicroSystems in a research report on Wednesday, July 16th. Finally, Cowen reaffirmed a “buy” rating on shares of Allegro MicroSystems in a research report on Friday. Ten investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.10.

Insider Buying and Selling

In related news, CAO Roald Graham Webster sold 8,266 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $32.81, for a total value of $271,207.46. Following the completion of the sale, the chief accounting officer directly owned 17,300 shares of the company’s stock, valued at approximately $567,613. This represents a 32.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Allegro MicroSystems Trading Down 3.3%

NASDAQ ALGM opened at $28.94 on Tuesday. The firm has a market capitalization of $5.36 billion, a P/E ratio of -78.21 and a beta of 1.72. The business has a fifty day simple moving average of $29.91 and a 200 day simple moving average of $29.39. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $38.45. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.01. The business 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 quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 EPS. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. On average, analysts predict that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Allegro MicroSystems Company 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.