Lisanti Capital Growth LLC Raises Holdings in Allegro MicroSystems, Inc. $ALGM

Lisanti Capital Growth LLC raised its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 39.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 109,975 shares of the company’s stock after purchasing an additional 30,920 shares during the quarter. Lisanti Capital Growth LLC owned 0.06% of Allegro MicroSystems worth $3,760,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of ALGM. KLP Kapitalforvaltning AS increased its holdings in Allegro MicroSystems by 10.4% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock valued at $940,000 after purchasing an additional 2,600 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Allegro MicroSystems during the second quarter worth $481,000. Envestnet Asset Management Inc. grew its stake in shares of Allegro MicroSystems by 36.7% in the first quarter. Envestnet Asset Management Inc. now owns 104,966 shares of the company’s stock valued at $2,638,000 after buying an additional 28,179 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Allegro MicroSystems in the first quarter valued at $278,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Allegro MicroSystems by 7.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,353 shares of the company’s stock valued at $411,000 after buying an additional 1,092 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Morgan Stanley dropped their target price on Allegro MicroSystems from $38.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, August 1st. Mizuho increased their price target 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. Wells Fargo & Company reissued an “overweight” rating and issued a $42.00 price objective (up previously from $33.00) on shares of Allegro MicroSystems in a research note on Wednesday, July 16th. Evercore ISI lifted their price objective on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Allegro MicroSystems in a report on Wednesday, October 8th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Allegro MicroSystems presently has an average rating of “Moderate Buy” and a consensus price target of $38.10.

Insiders Place Their Bets

In other news, CAO Roald Graham Webster sold 8,266 shares of the company’s stock in a transaction dated Friday, August 22nd. The stock was 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 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 legal filing with the SEC, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

Allegro MicroSystems Stock Down 0.8%

ALGM stock opened at $26.98 on Friday. The company’s 50 day moving average price is $29.58 and its 200 day moving average price is $29.59. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of -72.92 and a beta of 1.72. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two 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 posted its quarterly earnings results on Thursday, October 30th. The company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The company had revenue of $214.29 million during the quarter, compared to analysts’ expectations of $210.75 million. During the same quarter in the previous year, the business posted $0.08 EPS. The firm’s revenue was up 14.4% on a year-over-year basis. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. On average, equities research analysts anticipate 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.