Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System trimmed its position in Allegro MicroSystems, Inc. (NASDAQ:ALGMGet Rating) by 4.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,493 shares of the company’s stock after selling 1,190 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Allegro MicroSystems were worth $486,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ALGM. CWM LLC lifted its position in Allegro MicroSystems by 3,469.2% in the second quarter. CWM LLC now owns 1,392 shares of the company’s stock worth $29,000 after purchasing an additional 1,353 shares during the period. PNC Financial Services Group Inc. lifted its position in Allegro MicroSystems by 201.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,158 shares of the company’s stock worth $33,000 after purchasing an additional 774 shares during the period. Assetmark Inc. increased its holdings in shares of Allegro MicroSystems by 145.3% in the second quarter. Assetmark Inc. now owns 1,874 shares of the company’s stock valued at $39,000 after buying an additional 1,110 shares in the last quarter. US Bancorp DE increased its holdings in shares of Allegro MicroSystems by 981.5% in the first quarter. US Bancorp DE now owns 2,455 shares of the company’s stock valued at $70,000 after buying an additional 2,228 shares in the last quarter. Finally, MetLife Investment Management LLC bought a new position in shares of Allegro MicroSystems in the first quarter valued at $74,000. 46.10% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM opened at $29.51 on Friday. The company’s fifty day moving average is $23.78 and its two-hundred day moving average is $23.48. The company has a quick ratio of 3.96, a current ratio of 4.84 and a debt-to-equity ratio of 0.03. Allegro MicroSystems, Inc. has a 12-month low of $19.20 and a 12-month high of $38.28. The company has a market cap of $5.65 billion, a P/E ratio of 48.38 and a beta of 1.65.

Allegro MicroSystems (NASDAQ:ALGMGet Rating) last announced its earnings results on Thursday, October 27th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.05. Allegro MicroSystems had a net margin of 14.87% and a return on equity of 16.87%. The company had revenue of $237.70 million for the quarter, compared to the consensus estimate of $225.03 million. During the same period in the previous year, the business earned $0.17 EPS. The company’s revenue was up 22.8% on a year-over-year basis. Equities analysts expect that Allegro MicroSystems, Inc. will post 0.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Needham & Company LLC upped their price target on Allegro MicroSystems from $27.00 to $30.00 and gave the company a “buy” rating in a report on Thursday, October 27th. Barclays dropped their price target on Allegro MicroSystems from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. TheStreet raised Allegro MicroSystems from a “c” rating to a “b-” rating in a report on Wednesday. Finally, Mizuho dropped their price target on Allegro MicroSystems from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Friday, October 28th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $30.80.

Insider Transactions at Allegro MicroSystems

In other news, SVP Michael Doogue sold 9,059 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $28.76, for a total value of $260,536.84. Following the transaction, the senior vice president now directly owns 182,995 shares of the company’s stock, valued at $5,262,936.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Michael Doogue sold 9,059 shares of the company’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $28.76, for a total value of $260,536.84. Following the transaction, the senior vice president now directly owns 182,995 shares of the company’s stock, valued at $5,262,936.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph R. Martin sold 16,349 shares of the company’s stock in a transaction on Friday, November 4th. The stock was sold at an average price of $25.92, for a total transaction of $423,766.08. Following the completion of the transaction, the director now directly owns 35,536 shares in the company, valued at $921,093.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,073 shares of company stock valued at $1,452,522. 13.60% of the stock is owned by insiders.

Allegro MicroSystems Company Profile

(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; power ICs comprising motor driver ICs, and regulator and LED driver ICs; and photonic and 3D sensing components, including photodiodes, eye-safe lasers, and readout ICs for LiDAR applications.

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Institutional Ownership by Quarter for Allegro MicroSystems (NASDAQ:ALGM)

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