Vanguard Personalized Indexing Management LLC Has $372,000 Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Vanguard Personalized Indexing Management LLC raised its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 48.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,164 shares of the company’s stock after acquiring an additional 4,274 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Allegro MicroSystems were worth $372,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in Allegro MicroSystems by 1,957.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the company’s stock valued at $33,000 after acquiring an additional 1,096 shares in the last quarter. Pineridge Advisors LLC acquired a new position in Allegro MicroSystems in the 4th quarter valued at approximately $49,000. GAMMA Investing LLC raised its holdings in Allegro MicroSystems by 52.2% in the 2nd quarter. GAMMA Investing LLC now owns 1,759 shares of the company’s stock valued at $50,000 after acquiring an additional 603 shares in the last quarter. TFO Wealth Partners LLC raised its holdings in Allegro MicroSystems by 26,361.5% in the 4th quarter. TFO Wealth Partners LLC now owns 3,440 shares of the company’s stock valued at $104,000 after acquiring an additional 3,427 shares in the last quarter. Finally, CWM LLC raised its holdings in Allegro MicroSystems by 27.7% in the 2nd quarter. CWM LLC now owns 4,241 shares of the company’s stock valued at $120,000 after acquiring an additional 921 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. UBS Group assumed coverage on Allegro MicroSystems in a report on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 target price for the company. Needham & Company LLC reissued a “buy” rating and issued a $33.00 target price on shares of Allegro MicroSystems in a report on Friday, August 2nd. Finally, TD Cowen increased their target price on Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Thursday, June 13th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $34.44.

Allegro MicroSystems Stock Up 1.4 %

NASDAQ ALGM opened at $24.31 on Friday. The firm has a market cap of $4.71 billion, a PE ratio of 31.17 and a beta of 1.68. Allegro MicroSystems, Inc. has a one year low of $20.42 and a one year high of $33.26. The stock’s 50 day simple moving average is $23.55 and its 200 day simple moving average is $26.94. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.65 and a quick ratio of 2.98.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.04 million. Allegro MicroSystems had a return on equity of 13.88% and a net margin of 7.91%. Allegro MicroSystems’s revenue for the quarter was down 40.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Electric Co. Ltd. Sanken sold 10,017,315 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $23.16, for a total transaction of $232,001,015.40. Following the sale, the insider now directly owns 59,732,782 shares in the company, valued at approximately $1,383,411,231.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.50% of the stock is owned by corporate insiders.

Allegro MicroSystems 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.