Strs Ohio Sells 26,179 Shares of Allegro MicroSystems, Inc. $ALGM

Strs Ohio lowered its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 89.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,943 shares of the company’s stock after selling 26,179 shares during the period. Strs Ohio’s holdings in Allegro MicroSystems were worth $86,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in ALGM. Bayforest Capital Ltd acquired a new stake in shares of Allegro MicroSystems during the second quarter worth $650,000. Geode Capital Management LLC boosted its stake in Allegro MicroSystems by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 2,405,986 shares of the company’s stock worth $82,274,000 after purchasing an additional 17,902 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Allegro MicroSystems during the 2nd quarter worth about $481,000. KLP Kapitalforvaltning AS increased its holdings in Allegro MicroSystems by 10.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 27,500 shares of the company’s stock worth $940,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in shares of Allegro MicroSystems by 1.3% in the second quarter. Segall Bryant & Hamill LLC now owns 1,328,254 shares of the company’s stock valued at $45,413,000 after purchasing an additional 16,728 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. TD Cowen increased their price objective on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Wall Street Zen raised Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. UBS Group raised their price target on shares of Allegro MicroSystems from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $40.00 to $45.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Finally, Barclays raised their target price on shares of Allegro MicroSystems from $35.00 to $46.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Nine analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Allegro MicroSystems presently has an average rating of “Moderate Buy” and an average target price of $43.50.

Allegro MicroSystems Stock Down 1.8%

Shares of ALGM stock opened at $38.20 on Thursday. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $40.88. The stock has a market cap of $7.08 billion, a price-to-earnings ratio of -477.50 and a beta of 1.63. The firm’s 50-day moving average is $30.04 and its 200-day moving average is $29.83. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.39 and a current ratio of 3.65.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $229.21 million during the quarter, compared to analysts’ expectations of $220.78 million. Allegro MicroSystems had a positive return on equity of 4.35% and a negative net margin of 1.57%.Allegro MicroSystems’s quarterly revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the company posted $0.07 earnings per share. Sell-side analysts predict that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.