Calamos Advisors LLC Acquires New Shares in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Calamos Advisors LLC acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 18,500 shares of the company’s stock, valued at approximately $560,000.

A number of other hedge funds have also bought and sold shares of ALGM. SG Americas Securities LLC grew its stake in Allegro MicroSystems by 588.2% in the 3rd quarter. SG Americas Securities LLC now owns 63,813 shares of the company’s stock valued at $2,038,000 after buying an additional 54,540 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Allegro MicroSystems by 0.4% in the 3rd quarter. State of Alaska Department of Revenue now owns 110,565 shares of the company’s stock valued at $3,531,000 after buying an additional 435 shares in the last quarter. Commonwealth Equity Services LLC grew its stake in Allegro MicroSystems by 20.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,640 shares of the company’s stock valued at $595,000 after buying an additional 3,225 shares in the last quarter. Xponance Inc. grew its position in shares of Allegro MicroSystems by 11.3% during the 3rd quarter. Xponance Inc. now owns 16,383 shares of the company’s stock valued at $523,000 after purchasing an additional 1,664 shares in the last quarter. Finally, Robbins Farley purchased a new position in shares of Allegro MicroSystems during the 3rd quarter valued at $2,144,000. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Performance

NASDAQ ALGM opened at $26.21 on Tuesday. Allegro MicroSystems, Inc. has a 52-week low of $24.66 and a 52-week high of $53.05. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 4.57. The company has a market capitalization of $5.06 billion, a P/E ratio of 22.99 and a beta of 1.82. The company has a fifty day moving average of $28.68 and a 200-day moving average of $28.44.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Needham & Company LLC reduced their price target on shares of Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating for the company in a research report on Friday, February 2nd. TD Cowen boosted their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Evercore ISI assumed coverage on shares of Allegro MicroSystems in a research report on Tuesday, April 16th. They set an “outperform” rating and a $36.00 price target for the company. Finally, Wolfe Research upgraded shares of Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $44.50.

About Allegro MicroSystems

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.