Allegro MicroSystemsALGM
Market Cap: $3.91B
About: Allegro Microsystems Inc is a designer, developer, fabless manufacturer, and marketer of sensor ICs and application-specific analog power ICs for automotive and industrial markets. Its Sensor IC allows customers to precisely measure motion, speed, position, and current, and Power ICs include high-temperature and high-voltage capable motor drivers, power management, and LED driver ICs. Its products are divided into three categories such as SENSE which includes Current Sensors, Switches and Latches, and Interface ICs among others; REGULATE which includes Regulators, ClearPower Modules, and LED Drivers; and DRIVE which includes BLDC Drivers, Brush DC, and others. Key revenue for the company is generated from Greater China and the rest from the United States, Japan, Europe, and other regions.
Employees: 4,593
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
142% more call options, than puts
Call options by funds: $40.8M | Put options by funds: $16.9M
30% more repeat investments, than reductions
Existing positions increased: 109 | Existing positions reduced: 84
5% more capital invested
Capital invested by funds: $2.89B [Q1] → $3.03B (+$137M) [Q2]
0% more funds holding in top 10
Funds holding in top 10: 2 [Q1] → 2 (+0) [Q2]
0.22% less ownership
Funds ownership: 55.55% [Q1] → 55.33% (-0.22%) [Q2]
4% less funds holding
Funds holding: 275 [Q1] → 265 (-10) [Q2]
20% less first-time investments, than exits
New positions opened: 39 | Existing positions closed: 49
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
UBS Timothy Arcuri 55% 1-year accuracy 16 / 29 met price target | 55%upside $33 | Buy Initiated | 3 Sept 2024 |
Needham Quinn Bolton 34% 1-year accuracy 44 / 130 met price target | 55%upside $33 | Buy Reiterated | 2 Aug 2024 |
TD Cowen Joshua Buchalter 20% 1-year accuracy 1 / 5 met price target | 65%upside $35 | Buy Maintained | 13 Jun 2024 |