Kennedy Capital Management LLC Sells 46,055 Shares of Allegro MicroSystems, Inc. $ALGM

Kennedy Capital Management LLC lessened its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 38.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 73,395 shares of the company’s stock after selling 46,055 shares during the quarter. Kennedy Capital Management LLC’s holdings in Allegro MicroSystems were worth $2,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. UMB Bank n.a. raised its position 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 acquiring an additional 415 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Allegro MicroSystems by 158.8% in the 2nd 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 during the period. TD Waterhouse Canada Inc. grew its holdings in Allegro MicroSystems by 82.9% during the second quarter. TD Waterhouse Canada Inc. now owns 3,038 shares of the company’s stock valued at $104,000 after purchasing an additional 1,377 shares during the period. Summit Securities Group LLC increased its position in Allegro MicroSystems by 257.8% in the first quarter. Summit Securities Group LLC now owns 4,000 shares of the company’s stock worth $101,000 after buying an additional 2,882 shares during the last quarter. Finally, Praxis Investment Management Inc. bought a new stake in shares of Allegro MicroSystems in the second quarter valued at $225,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Up 1.4%

Shares of NASDAQ:ALGM opened at $29.22 on Friday. The firm has a fifty day moving average price of $27.67 and a two-hundred day moving average price of $30.13. The company has a market cap of $5.41 billion, a price-to-earnings ratio of -182.63 and a beta of 1.62. 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 one year low of $16.38 and a one year high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, October 30th. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate 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 2.90% and a negative net margin of 3.60%.Allegro MicroSystems’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. Allegro MicroSystems has set its Q3 2026 guidance at 0.120-0.160 EPS. Analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group increased their price target on Allegro MicroSystems from $38.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Barclays increased their target price on shares of Allegro MicroSystems from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Evercore ISI upped their price target on shares of Allegro MicroSystems from $37.00 to $49.00 and gave the company an “outperform” rating in a research note on Friday, October 31st. Zacks Research upgraded shares of Allegro MicroSystems to a “hold” rating in a research note on Monday, August 11th. Finally, Cowen reissued a “buy” rating on shares of Allegro MicroSystems in a report on Friday, October 31st. Nine 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’s stock. According to MarketBeat, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus target price of $39.00.

About Allegro MicroSystems

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.