Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its position in Allegro MicroSystems, Inc. (NASDAQ:ALGMGet Rating) by 6.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,888 shares of the company’s stock after acquiring an additional 486 shares during the quarter. Advisors Asset Management Inc.’s holdings in Allegro MicroSystems were worth $163,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGM. CWM LLC boosted its holdings in Allegro MicroSystems by 3,469.2% in the second quarter. CWM LLC now owns 1,392 shares of the company’s stock valued at $29,000 after acquiring an additional 1,353 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Allegro MicroSystems by 201.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,158 shares of the company’s stock worth $33,000 after acquiring an additional 774 shares in the last quarter. Assetmark Inc. increased its holdings in Allegro MicroSystems by 145.3% in the second quarter. Assetmark Inc. now owns 1,874 shares of the company’s stock valued at $39,000 after buying an additional 1,110 shares during the last quarter. US Bancorp DE increased its holdings in Allegro MicroSystems by 981.5% in the first quarter. US Bancorp DE now owns 2,455 shares of the company’s stock valued at $70,000 after buying an additional 2,228 shares during the last quarter. Finally, MetLife Investment Management LLC bought a new stake in Allegro MicroSystems in the first quarter valued at about $74,000. Institutional investors and hedge funds own 46.10% of the company’s stock.

Insiders Place Their Bets

In other Allegro MicroSystems news, SVP Michael Doogue sold 9,059 shares of the company’s stock in a transaction that occurred on Monday, November 14th. The stock was sold at an average price of $28.76, for a total value of $260,536.84. Following the completion of the sale, the senior vice president now directly owns 182,995 shares in the company, valued at $5,262,936.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Allegro MicroSystems news, Director Joseph R. Martin sold 16,349 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $25.92, for a total value of $423,766.08. Following the completion of the sale, the director now directly owns 35,536 shares in the company, valued at $921,093.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Doogue sold 9,059 shares of the stock in a transaction on Monday, November 14th. The shares were sold at an average price of $28.76, for a total value of $260,536.84. Following the sale, the senior vice president now owns 182,995 shares of the company’s stock, valued at approximately $5,262,936.20. The disclosure for this sale can be found here. Insiders sold 52,073 shares of company stock worth $1,452,522 over the last ninety days. Company insiders own 13.60% of the company’s stock.

Analyst Ratings Changes

ALGM has been the subject of several recent research reports. Barclays lowered their target price on Allegro MicroSystems from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Mizuho lowered their target price on Allegro MicroSystems from $42.00 to $38.00 and set a “buy” rating for the company in a report on Friday, October 28th. Needham & Company LLC upped their target price on Allegro MicroSystems from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 27th. Finally, TheStreet raised Allegro MicroSystems from a “c” rating to a “b-” rating in a report on Wednesday, November 16th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Allegro MicroSystems currently has an average rating of “Buy” and a consensus price target of $30.80.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $29.40 on Tuesday. Allegro MicroSystems, Inc. has a 12-month low of $19.20 and a 12-month high of $38.28. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 49.18 and a beta of 1.65. The business has a 50 day simple moving average of $23.78 and a 200 day simple moving average of $23.46. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.84 and a quick ratio of 3.96.

Allegro MicroSystems (NASDAQ:ALGMGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. Allegro MicroSystems had a return on equity of 16.87% and a net margin of 14.87%. The business had revenue of $237.70 million during the quarter, compared to analyst estimates of $225.03 million. During the same period in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was up 22.8% compared to the same quarter last year. On average, equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.9 EPS for the current year.

Allegro MicroSystems Company Profile

(Get Rating)

Allegro MicroSystems, Inc 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; power ICs comprising motor driver ICs, and regulator and LED driver ICs; and photonic and 3D sensing components, including photodiodes, eye-safe lasers, and readout ICs for LiDAR applications.

Featured Stories

Want to see what other hedge funds are holding ALGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegro MicroSystems, Inc. (NASDAQ:ALGMGet Rating).

Institutional Ownership by Quarter for Allegro MicroSystems (NASDAQ:ALGM)

Receive News & Ratings for Allegro MicroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegro MicroSystems and related companies with MarketBeat.com's FREE daily email newsletter.