New York State Teachers Retirement System Has $309,000 Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

New York State Teachers Retirement System lowered its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 37.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 10,200 shares of the company’s stock after selling 6,109 shares during the period. New York State Teachers Retirement System’s holdings in Allegro MicroSystems were worth $309,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. State of Wyoming acquired a new stake in shares of Allegro MicroSystems during the 2nd quarter valued at $28,000. Harbour Investments Inc. acquired a new stake in shares of Allegro MicroSystems in the 1st quarter valued at $33,000. Castleview Partners LLC acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at $44,000. First Capital Advisors Group LLC. acquired a new stake in shares of Allegro MicroSystems in the 2nd quarter valued at $45,000. Finally, Altshuler Shaham Ltd acquired a new stake in shares of Allegro MicroSystems in the 4th quarter valued at $32,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $26.09 on Friday. The company has a market capitalization of $5.04 billion, a PE ratio of 22.89 and a beta of 1.82. Allegro MicroSystems, Inc. has a one year low of $24.66 and a one year high of $53.05. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.57 and a quick ratio of 3.19. The company’s fifty day moving average price is $28.79 and its 200 day moving average price is $28.50.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, February 1st. The company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. Allegro MicroSystems had a net margin of 21.14% and a return on equity of 23.84%. The firm had revenue of $254.98 million for the quarter, compared to the consensus estimate of $255.00 million. As a group, analysts expect that Allegro MicroSystems, Inc. will post 1.13 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALGM shares. TD Cowen lifted their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Wolfe Research raised shares of Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 price objective for the company in a research note on Friday, February 2nd. Needham & Company LLC reduced their price objective on shares of Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, February 2nd. Finally, Evercore ISI initiated coverage on shares of Allegro MicroSystems in a research note on Tuesday. They issued an “outperform” rating and a $36.00 price objective for the company. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.50.

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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.