Allegro MicroSystems (ALGM)

• Market cap: $4.6B
• 1 day: 0.64%
• 5 days: 6.61%
• 1 month: 11.81%
• 3 months: 25.19%
• 6 months: -13.46%
• Year to date: 9.60%
• 1 year: -11.32%
• 5 years: 41.24%
• 10 years: 41.24%
• Sector: Information Technology
• Industry: Semiconductors & Related Devices

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 Q3 regulatory filings by fund managers ($100M+ AUM)

65% more repeat investments, than reductions

Existing positions increased: 112 | Existing positions reduced: 68

7.31% more ownership

Funds ownership: 61.12% [Q2] → 68.43% (+7.31%) [Q3]

6% more capital invested

Capital invested by funds: $3.35B [Q2] → $3.55B (+$202M) [Q3]

8% less funds holding

Funds holding: 266 [Q2] → 244 (-22) [Q3]

30% less first-time investments, than exits

New positions opened: 43 | Existing positions closed: 61

61% less call options, than puts

Call options by funds: $24.4M | Put options by funds: $62.5M

100% less funds holding in top 10

Funds holding in top 10: 2 [Q2] → 0 (-2) [Q3]

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $21 16% downside
• Avg. target: $26 5% upside
• High target: $30 20% upside

5 analyst ratings

• positive: 4 80%
• neutral: 1 20%
• negative: 0 0%

Barclays Blayne Curtis 52% 1-year accuracy 24 / 46 met price target	20% upside $30	Overweight Maintained	17 Jan 2025
Wells Fargo Joseph Quatrochi 57% 1-year accuracy 13 / 23 met price target	8% upside $27	Overweight Maintained	13 Jan 2025
Wells Fargo Gary Mobley 64% 1-year accuracy 14 / 22 met price target	8% downside $23	Overweight Initiated	22 Nov 2024
Morgan Stanley Joseph Moore 67% 1-year accuracy 39 / 58 met price target	16% downside $21	Equal-Weight Initiated	7 Nov 2024
Needham Quinn Bolton 52% 1-year accuracy 68 / 131 met price target	20% upside $30	Buy Maintained	31 Oct 2024