UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Holdings in Allegro MicroSystems, Inc. $ALGM

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 6.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 323,297 shares of the company’s stock after selling 21,760 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Allegro MicroSystems were worth $22,508,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALGM. Van ECK Associates Corp boosted its holdings in shares of Allegro MicroSystems by 68.8% during the second quarter. Van ECK Associates Corp now owns 70,504 shares of the company’s stock worth $4,908,000 after purchasing an additional 28,738 shares during the period. Braun Stacey Associates Inc. bought a new stake in Allegro MicroSystems during the second quarter worth about $25,515,000. Hsbc Holdings PLC grew its stake in shares of Allegro MicroSystems by 46.3% in the 2nd quarter. Hsbc Holdings PLC now owns 26,862 shares of the company’s stock worth $1,870,000 after buying an additional 8,507 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Allegro MicroSystems by 21.1% during the second quarter. Wellington Management Group LLP now owns 814,937 shares of the company’s stock valued at $56,736,000 after acquiring an additional 141,841 shares in the last quarter. Finally, United Capital Financial Advisors LLC purchased a new position in Allegro MicroSystems in the second quarter worth about $238,000. Institutional investors own 56.45% of the company’s stock.

Insider Activity

In other news, SVP Erin Hagen sold 2,285 shares of Allegro MicroSystems stock in a transaction on Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the sale, the senior vice president directly owned 31,052 shares in the company, valued at approximately $1,378,398.28. The trade was a 6.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.50% of the stock is currently owned by company insiders.

Allegro MicroSystems Stock Performance

Allegro MicroSystems stock opened at $36.61 on Friday. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77. The company has a market capitalization of $6.82 billion, a PE ratio of 610.27, a P/E/G ratio of 1.12 and a beta of 1.91. The company has a 50 day moving average price of $45.49 and a 200-day moving average price of $43.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.33 and a current ratio of 3.70.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.21 by $0.02. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The company had revenue of $259.24 million for the quarter, compared to analyst estimates of $251.44 million. During the same period last year, the company posted $0.09 earnings per share. Allegro MicroSystems’s revenue was up 27.5% compared to the same quarter last year. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. As a group, equities analysts forecast that Allegro MicroSystems, Inc. will post 0.65 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALGM shares. Evercore reaffirmed an “outperform” rating and set a $53.00 price target on shares of Allegro MicroSystems in a report on Friday, May 8th. UBS Group increased their target price on Allegro MicroSystems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, May 8th. Benchmark started coverage on shares of Allegro MicroSystems in a research note on Wednesday, August 12th. They set a “buy” rating and a $60.00 price target on the stock. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, August 2nd. Finally, TD Cowen reduced their price objective on shares of Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating on the stock in a research report on Friday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $53.45.

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.