California State Teachers Retirement System Raises Stock Holdings in Allegro MicroSystems, Inc. $ALGM

California State Teachers Retirement System increased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 21.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 149,826 shares of the company’s stock after acquiring an additional 26,828 shares during the quarter. California State Teachers Retirement System owned approximately 0.08% of Allegro MicroSystems worth $4,724,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. raised its stake in shares of Allegro MicroSystems by 44.0% during the 4th quarter. Invesco Ltd. now owns 7,651,051 shares of the company’s stock worth $201,835,000 after purchasing an additional 2,338,624 shares during the period. State Street Corp increased its holdings in Allegro MicroSystems by 1.5% during the fourth quarter. State Street Corp now owns 5,359,488 shares of the company’s stock worth $141,383,000 after buying an additional 78,203 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in Allegro MicroSystems by 77.8% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 2,803,944 shares of the company’s stock worth $73,968,000 after buying an additional 1,227,317 shares during the last quarter. Alliancebernstein L.P. raised its position in Allegro MicroSystems by 189.4% in the second quarter. Alliancebernstein L.P. now owns 2,759,872 shares of the company’s stock worth $94,360,000 after acquiring an additional 1,806,183 shares during the period. Finally, Geode Capital Management LLC raised its position in Allegro MicroSystems by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 2,393,968 shares of the company’s stock worth $63,165,000 after acquiring an additional 24,839 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Up 3.1%

ALGM opened at $43.77 on Friday. Allegro MicroSystems, Inc. has a 12 month low of $22.41 and a 12 month high of $71.77. The company has a market cap of $8.16 billion, a PE ratio of 729.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.94. The company has a current ratio of 3.70, a quick ratio of 2.33 and a debt-to-equity ratio of 0.30. The company has a 50 day moving average of $51.17 and a 200 day moving average of $42.95.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, July 30th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.02. The business had revenue of $259.24 million for the quarter, compared to analysts’ expectations of $251.44 million. Allegro MicroSystems had a net margin of 1.50% and a return on equity of 8.30%. The business’s revenue for the quarter was up 27.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.09 EPS. Allegro MicroSystems has set its Q2 2027 guidance at 0.230-0.260 EPS. On average, sell-side analysts expect that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Insider Activity at Allegro MicroSystems

In related news, CAO Roald Graham Webster sold 5,217 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $44.88, for a total transaction of $234,138.96. Following the sale, the chief accounting officer owned 13,106 shares of the company’s stock, valued at approximately $588,197.28. This represents a 28.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan D. Lynch sold 16,711 shares of Allegro MicroSystems stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $45.46, for a total value of $759,682.06. Following the transaction, the director directly owned 12,805 shares of the company’s stock, valued at $582,115.30. The trade was a 56.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 68,607 shares of company stock worth $3,213,714 in the last 90 days. 0.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Weiss Ratings raised shares of Allegro MicroSystems from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday. Wells Fargo & Company lifted their price target on shares of Allegro MicroSystems from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Needham & Company LLC increased their price objective on Allegro MicroSystems from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 30th. TD Cowen decreased their target price on Allegro MicroSystems from $66.00 to $48.00 and set a “buy” rating for the company in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. Nine 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 stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.80.

About Allegro MicroSystems

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.