Hussman Strategic Advisors Inc. Trims Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Hussman Strategic Advisors Inc. cut its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 25.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,000 shares of the company’s stock after selling 21,000 shares during the period. Hussman Strategic Advisors Inc.’s holdings in Allegro MicroSystems were worth $1,907,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Allegro MicroSystems by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 7,361,938 shares of the company’s stock valued at $235,140,000 after acquiring an additional 355,814 shares during the period. JPMorgan Chase & Co. lifted its position in Allegro MicroSystems by 21.9% during the third quarter. JPMorgan Chase & Co. now owns 4,052,437 shares of the company’s stock valued at $129,435,000 after acquiring an additional 727,535 shares during the last quarter. Robbins Farley acquired a new stake in Allegro MicroSystems in the third quarter valued at approximately $2,144,000. Sei Investments Co. grew its holdings in Allegro MicroSystems by 42.5% in the third quarter. Sei Investments Co. now owns 391,144 shares of the company’s stock worth $12,494,000 after purchasing an additional 116,603 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its position in shares of Allegro MicroSystems by 51.6% during the third quarter. Envestnet Asset Management Inc. now owns 123,376 shares of the company’s stock worth $3,941,000 after purchasing an additional 41,999 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ALGM shares. Evercore ISI initiated coverage on Allegro MicroSystems in a research note on Tuesday, April 16th. They set an “outperform” rating and a $36.00 target price on the stock. TD Cowen upped their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Needham & Company LLC lowered their target price on shares of Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Finally, Wolfe Research raised shares of Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Friday, February 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Allegro MicroSystems Stock Performance

Shares of NASDAQ ALGM opened at $26.09 on Monday. The company has a current ratio of 4.57, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22. The company has a 50 day simple moving average of $28.79 and a two-hundred day simple moving average of $28.47. Allegro MicroSystems, Inc. has a 12 month low of $24.66 and a 12 month high of $53.05. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 22.89 and a beta of 1.82.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, February 1st. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. Allegro MicroSystems had a return on equity of 23.84% and a net margin of 21.14%. The firm had revenue of $254.98 million for the quarter, compared to analyst estimates of $255.00 million. As a group, analysts predict that Allegro MicroSystems, Inc. will post 1.13 earnings per share for the current 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.