Allegro MicroSystems (NASDAQ:ALGM – Get Rating) had its price objective lowered by analysts at Mizuho from $45.00 to $44.00 in a note issued to investors on Wednesday, The Fly reports. Mizuho’s price target points to a potential upside of 76.21% from the stock’s current price.
Separately, Zacks Investment Research cut Allegro MicroSystems from a “buy” rating to a “hold” rating in a report on Tuesday, April 5th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $38.50.
Allegro MicroSystems stock opened at $24.97 on Wednesday. The stock has a market capitalization of $4.74 billion, a price-to-earnings ratio of 47.11 and a beta of 1.61. Allegro MicroSystems has a 52-week low of $22.05 and a 52-week high of $38.28. The stock’s 50 day moving average price is $27.20 and its two-hundred day moving average price is $30.11. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.87 and a current ratio of 4.65.
In related news, SVP Michael Doogue sold 7,500 shares of the stock in a transaction on Friday, March 18th. The stock was sold at an average price of $29.04, for a total value of $217,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 26.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALGM. SG Americas Securities LLC purchased a new stake in Allegro MicroSystems in the 3rd quarter valued at $973,000. Victory Capital Management Inc. increased its position in shares of Allegro MicroSystems by 683.4% during the 3rd quarter. Victory Capital Management Inc. now owns 74,896 shares of the company’s stock valued at $2,394,000 after purchasing an additional 65,336 shares during the last quarter. Raymond James & Associates increased its position in shares of Allegro MicroSystems by 3.5% during the 3rd quarter. Raymond James & Associates now owns 38,602 shares of the company’s stock valued at $1,234,000 after purchasing an additional 1,298 shares during the last quarter. FengHe Fund Management Pte. Ltd. purchased a new stake in shares of Allegro MicroSystems during the 3rd quarter valued at $8,278,000. Finally, Dupont Capital Management Corp increased its position in shares of Allegro MicroSystems by 25.3% during the 3rd quarter. Dupont Capital Management Corp now owns 15,787 shares of the company’s stock valued at $505,000 after purchasing an additional 3,184 shares during the last quarter. 47.69% of the stock is owned by institutional investors and hedge funds.
About Allegro MicroSystems (Get Rating)
Allegro MicroSystems, Inc 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, and regulator and LED driver ICs, as well as photonic and 3D sensing components, including photodiodes, eye-safe lasers and rangefinders, and readout ICs for LiDAR applications.
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