Silvercrest Asset Management Group LLC Has $13.94 Million Stock Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Silvercrest Asset Management Group LLC increased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 21.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 637,571 shares of the company’s stock after purchasing an additional 114,476 shares during the period. Silvercrest Asset Management Group LLC’s holdings in Allegro MicroSystems were worth $13,937,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALGM. JPMorgan Chase & Co. lifted its position in shares of Allegro MicroSystems by 20.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock worth $256,851,000 after purchasing an additional 1,884,578 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of Allegro MicroSystems during the 4th quarter worth about $35,433,000. Paloma Partners Management Co lifted its position in shares of Allegro MicroSystems by 312.8% during the 4th quarter. Paloma Partners Management Co now owns 2,103,800 shares of the company’s stock worth $45,989,000 after purchasing an additional 1,594,170 shares during the last quarter. Norges Bank acquired a new position in shares of Allegro MicroSystems during the 4th quarter worth about $26,926,000. Finally, Meridiem Capital Partners LP bought a new position in Allegro MicroSystems during the fourth quarter valued at about $25,140,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Barclays boosted their price target on Allegro MicroSystems from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Needham & Company LLC lowered their price target on Allegro MicroSystems from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Friday, May 9th. Mizuho boosted their price target on Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, March 24th. UBS Group boosted their price target on Allegro MicroSystems from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Morgan Stanley boosted their price target on Allegro MicroSystems from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.38.

Allegro MicroSystems Trading Up 1.8%

Shares of ALGM opened at $27.51 on Friday. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $33.26. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $22.58 and a 200-day simple moving average of $22.85. The stock has a market cap of $5.07 billion, a PE ratio of -78.60 and a beta of 1.57.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, May 8th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.01. Allegro MicroSystems had a positive return on equity of 4.31% and a negative net margin of 8.45%. The business had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $185.35 million. During the same period in the prior year, the firm posted $0.25 EPS. Allegro MicroSystems’s quarterly revenue was down 19.9% compared to the same quarter last year. On average, sell-side analysts predict that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

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