Janus Henderson Group PLC Acquires 15,172 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Janus Henderson Group PLC lifted its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 42.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,229 shares of the company’s stock after purchasing an additional 15,172 shares during the period. Janus Henderson Group PLC’s holdings in Allegro MicroSystems were worth $1,193,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Allegro MicroSystems by 27.7% during the 2nd quarter. CWM LLC now owns 4,241 shares of the company’s stock worth $120,000 after buying an additional 921 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Allegro MicroSystems by 148.3% during the 2nd quarter. SG Americas Securities LLC now owns 27,401 shares of the company’s stock valued at $774,000 after acquiring an additional 16,367 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Allegro MicroSystems by 6.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 36,447 shares of the company’s stock worth $1,029,000 after acquiring an additional 2,053 shares in the last quarter. Raymond James & Associates grew its holdings in Allegro MicroSystems by 5.5% in the second quarter. Raymond James & Associates now owns 84,554 shares of the company’s stock worth $2,388,000 after purchasing an additional 4,380 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Allegro MicroSystems by 18.7% in the second quarter. Bank of New York Mellon Corp now owns 805,081 shares of the company’s stock valued at $22,735,000 after purchasing an additional 127,094 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Trading Up 1.7 %

Shares of Allegro MicroSystems stock opened at $22.00 on Friday. The company has a current ratio of 4.22, a quick ratio of 2.80 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $21.16 and a 200 day simple moving average of $24.31. Allegro MicroSystems, Inc. has a 12-month low of $18.59 and a 12-month high of $33.26. The company has a market capitalization of $4.05 billion, a P/E ratio of -157.14 and a beta of 1.67.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.48%. The firm had revenue of $187.39 million during the quarter, compared to analyst estimates of $187.52 million. During the same quarter in the prior year, the business posted $0.36 EPS. The business’s revenue was down 32.0% compared to the same quarter last year.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Michael Doogue bought 15,000 shares of Allegro MicroSystems stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $19.00 per share, with a total value of $285,000.00. Following the completion of the acquisition, the senior vice president now directly owns 246,086 shares in the company, valued at approximately $4,675,634. The trade was a 6.49 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

ALGM has been the subject of several research reports. Barclays reduced their target price on Allegro MicroSystems from $32.00 to $25.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company initiated coverage on Allegro MicroSystems in a research note on Friday, November 22nd. They issued an “overweight” rating and a $23.00 price objective for the company. Loop Capital started coverage on Allegro MicroSystems in a research report on Tuesday, November 12th. They set a “buy” rating and a $30.00 target price on the stock. Morgan Stanley initiated coverage on Allegro MicroSystems in a report on Thursday, November 7th. They issued an “equal weight” rating and a $21.00 target price on the stock. Finally, Needham & Company LLC decreased their price target on shares of Allegro MicroSystems from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus price target of $30.09.

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.