Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Sold by First Trust Advisors LP

First Trust Advisors LP decreased its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGMFree Report) by 27.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,153,725 shares of the company’s stock after selling 447,077 shares during the quarter. First Trust Advisors LP owned 0.60% of Allegro MicroSystems worth $34,923,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. FMR LLC boosted its stake in shares of Allegro MicroSystems by 13.8% during the 3rd quarter. FMR LLC now owns 9,234,454 shares of the company’s stock worth $294,948,000 after acquiring an additional 1,121,651 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Allegro MicroSystems by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,361,938 shares of the company’s stock worth $235,140,000 after acquiring an additional 355,814 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Allegro MicroSystems by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,052,437 shares of the company’s stock worth $129,435,000 after acquiring an additional 727,535 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Allegro MicroSystems by 12.2% during the 3rd quarter. Invesco Ltd. now owns 3,205,810 shares of the company’s stock worth $102,394,000 after acquiring an additional 347,971 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Allegro MicroSystems by 0.4% during the 4th quarter. Principal Financial Group Inc. now owns 2,134,946 shares of the company’s stock worth $64,625,000 after acquiring an additional 7,993 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Evercore ISI assumed coverage on Allegro MicroSystems in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $36.00 target price on the stock. Barclays reduced their target price on Allegro MicroSystems from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Needham & Company LLC reduced their target price on Allegro MicroSystems from $40.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Jefferies Financial Group assumed coverage on Allegro MicroSystems in a research note on Monday, May 13th. They issued a “buy” rating and a $37.00 target price on the stock. Finally, TD Cowen reduced their target price on Allegro MicroSystems from $35.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $37.11.

Get Our Latest Stock Report on Allegro MicroSystems

Allegro MicroSystems Trading Down 0.2 %

Shares of ALGM opened at $29.39 on Friday. The stock has a fifty day moving average of $28.53 and a two-hundred day moving average of $28.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.48 and a current ratio of 4.85. The company has a market capitalization of $5.69 billion, a PE ratio of 37.68 and a beta of 1.70. Allegro MicroSystems, Inc. has a fifty-two week low of $23.64 and a fifty-two week high of $53.05.

Allegro MicroSystems (NASDAQ:ALGMGet Free Report) last issued its quarterly earnings results on Thursday, May 9th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.02. The company had revenue of $240.58 million during the quarter, compared to the consensus estimate of $235.00 million. Allegro MicroSystems had a return on equity of 20.67% and a net margin of 14.55%. As a group, analysts forecast that Allegro MicroSystems, Inc. will post 0.23 EPS for the current year.

Insider Transactions at Allegro MicroSystems

In other news, Director Richard R. Lury sold 8,500 shares of the company’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $30.00, for a total transaction of $255,000.00. Following the completion of the sale, the director now directly owns 23,001 shares in the company, valued at approximately $690,030. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 9.70% of the company’s stock.

Allegro MicroSystems Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ALGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegro MicroSystems, Inc. (NASDAQ:ALGMFree Report).

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

Receive News & Ratings for Allegro MicroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegro MicroSystems and related companies with MarketBeat.com's FREE daily email newsletter.