Juncture Wealth Strategies LLC Makes New Investment in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Juncture Wealth Strategies LLC acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 19,559 shares of the company’s stock, valued at approximately $883,000.

Other institutional investors also recently modified their holdings of the company. Raymond James & Associates lifted its position in shares of Allegro MicroSystems by 6.3% during the 1st quarter. Raymond James & Associates now owns 43,038 shares of the company’s stock valued at $1,222,000 after acquiring an additional 2,550 shares during the period. US Bancorp DE grew its stake in shares of Allegro MicroSystems by 981.5% in the 1st quarter. US Bancorp DE now owns 2,455 shares of the company’s stock worth $70,000 after acquiring an additional 2,228 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of Allegro MicroSystems by 201.6% in the 1st 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. AlphaCrest Capital Management LLC bought a new stake in shares of Allegro MicroSystems in the 1st quarter worth $317,000. Finally, MetLife Investment Management LLC bought a new position in Allegro MicroSystems during the first quarter valued at about $74,000. 50.63% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ALGM. Wolfe Research started coverage on shares of Allegro MicroSystems in a research report on Wednesday, July 19th. They set a “market perform” rating for the company. Barclays raised their target price on shares of Allegro MicroSystems from $50.00 to $60.00 in a research note on Thursday, July 20th. Mizuho lifted their target price on shares of Allegro MicroSystems from $50.00 to $56.00 in a research report on Thursday, July 20th. Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $52.00 to $60.00 in a report on Wednesday, July 26th. Finally, Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Allegro MicroSystems in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Allegro MicroSystems currently has an average rating of “Moderate Buy” and an average target price of $52.33.

Insider Transactions at Allegro MicroSystems

In other news, Director Joseph R. Martin sold 17,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $38.73, for a total value of $658,410.00. Following the sale, the director now directly owns 22,374 shares of the company’s stock, valued at approximately $866,545.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.70% of the company’s stock.

Allegro MicroSystems Trading Up 1.0 %

Allegro MicroSystems stock traded up $0.32 during mid-day trading on Monday, reaching $33.11. 279,791 shares of the company traded hands, compared to its average volume of 1,529,626. The company has a debt-to-equity ratio of 0.02, a current ratio of 4.56 and a quick ratio of 3.43. The firm’s 50 day moving average price is $41.96 and its 200 day moving average price is $41.98. The firm has a market capitalization of $6.37 billion, a price-to-earnings ratio of 26.88 and a beta of 1.80. Allegro MicroSystems, Inc. has a 52-week low of $19.80 and a 52-week high of $53.05.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings data on Tuesday, August 1st. The company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $278.29 million for the quarter, compared to the consensus estimate of $275.00 million. Allegro MicroSystems had a net margin of 23.67% and a return on equity of 26.17%. On average, analysts anticipate that Allegro MicroSystems, Inc. will post 1.25 earnings per share for the current fiscal year.

Allegro MicroSystems Company 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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.