Allspring Global Investments Holdings LLC Lowers Stock Holdings in Allegro MicroSystems, Inc. $ALGM

Allspring Global Investments Holdings LLC trimmed its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 0.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 391,104 shares of the company’s stock after selling 3,468 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Allegro MicroSystems were worth $13,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Johnson Investment Counsel Inc. purchased a new stake in Allegro MicroSystems in the 2nd quarter valued at about $262,000. Maryland State Retirement & Pension System bought a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at about $232,000. KLP Kapitalforvaltning AS raised its holdings in shares of 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 in the last quarter. Lecap Asset Management Ltd. bought a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at about $630,000. Finally, Public Employees Retirement System of Ohio raised its holdings in shares of Allegro MicroSystems by 6.1% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,956 shares of the company’s stock valued at $1,332,000 after purchasing an additional 2,251 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALGM shares. Mizuho boosted their price target on shares of Allegro MicroSystems from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Wells Fargo & Company restated an “overweight” rating and issued a $42.00 price target (up previously from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. UBS Group boosted their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Needham & Company LLC boosted their price objective on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the stock a “buy” rating in a research note on Thursday, July 31st. Finally, TD Cowen reduced their price objective on shares of Allegro MicroSystems from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Friday, August 1st. Eight analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $36.78.

Insiders Place Their Bets

In other Allegro MicroSystems news, CAO Roald Graham Webster sold 8,266 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $32.81, for a total transaction of $271,207.46. Following the sale, the chief accounting officer owned 17,300 shares of the company’s stock, valued at approximately $567,613. The trade was a 32.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Allegro MicroSystems Trading Down 0.9%

NASDAQ ALGM opened at $29.06 on Friday. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. The firm has a market cap of $5.38 billion, a PE ratio of -78.54 and a beta of 1.72. The company has a 50 day moving average price of $30.05 and a 200 day moving average price of $28.53. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, July 31st. The company reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $203.41 million for the quarter, compared to the consensus estimate of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. Allegro MicroSystems’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. Allegro MicroSystems has set its Q2 2026 guidance at 0.100-0.140 EPS. As a group, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

Allegro MicroSystems 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.