Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 4.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 43,921 shares of the company’s stock after selling 2,263 shares during the period. Mutual of America Capital Management LLC’s holdings in Allegro MicroSystems were worth $1,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its stake in Allegro MicroSystems by 588.2% during the third quarter. SG Americas Securities LLC now owns 63,813 shares of the company’s stock worth $2,038,000 after buying an additional 54,540 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Allegro MicroSystems by 0.4% during the 3rd quarter. State of Alaska Department of Revenue now owns 110,565 shares of the company’s stock worth $3,531,000 after purchasing an additional 435 shares during the period. Commonwealth Equity Services LLC increased its holdings in Allegro MicroSystems by 20.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 18,640 shares of the company’s stock valued at $595,000 after purchasing an additional 3,225 shares during the last quarter. Xponance Inc. raised its position in Allegro MicroSystems by 11.3% in the third quarter. Xponance Inc. now owns 16,383 shares of the company’s stock valued at $523,000 after purchasing an additional 1,664 shares during the period. Finally, Robbins Farley acquired a new position in Allegro MicroSystems during the third quarter worth $2,144,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating on the stock in a report 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. TD Cowen upped their target price on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Friday, February 2nd. Finally, Evercore ISI assumed coverage on shares of Allegro MicroSystems in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $36.00 price target for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Allegro MicroSystems Trading Up 0.5 %

NASDAQ ALGM opened at $26.21 on Tuesday. Allegro MicroSystems, Inc. has a 52 week low of $24.66 and a 52 week high of $53.05. The firm has a 50 day moving average of $28.68 and a two-hundred day moving average of $28.44. The stock has a market capitalization of $5.06 billion, a PE ratio of 22.99 and a beta of 1.82. The company has a quick ratio of 3.19, a current ratio of 4.57 and a debt-to-equity ratio of 0.22.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, February 1st. The company reported $0.27 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $255.00 million. As a group, research analysts expect that Allegro MicroSystems, Inc. will post 1.13 EPS for the current fiscal year.

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.