UMB Bank n.a. Has $36,000 Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

UMB Bank n.a. grew its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 68.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,420 shares of the company’s stock after purchasing an additional 578 shares during the quarter. UMB Bank n.a.’s holdings in Allegro MicroSystems were worth $36,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. Rhumbline Advisers boosted its stake in shares of Allegro MicroSystems by 1.4% during the 1st quarter. Rhumbline Advisers now owns 330,263 shares of the company’s stock worth $8,299,000 after acquiring an additional 4,428 shares during the period. GAMMA Investing LLC boosted its stake in shares of Allegro MicroSystems by 6,038.4% during the 1st quarter. GAMMA Investing LLC now owns 104,415 shares of the company’s stock worth $2,624,000 after acquiring an additional 102,714 shares during the period. Moody National Bank Trust Division bought a new position in shares of Allegro MicroSystems during the 1st quarter worth approximately $967,000. Wellington Management Group LLP boosted its stake in shares of Allegro MicroSystems by 30.5% during the 4th quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company’s stock worth $87,302,000 after acquiring an additional 934,048 shares during the period. Finally, California State Teachers Retirement System boosted its stake in shares of Allegro MicroSystems by 5.2% during the 4th quarter. California State Teachers Retirement System now owns 120,042 shares of the company’s stock worth $2,624,000 after acquiring an additional 5,970 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ALGM shares. Needham & Company LLC reduced their target price on Allegro MicroSystems from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Barclays boosted their price target on Allegro MicroSystems from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Mizuho increased their target price on Allegro MicroSystems from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, March 24th. UBS Group increased their target price on Allegro MicroSystems from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Finally, Morgan Stanley increased their target price on Allegro MicroSystems from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Monday, June 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $26.57.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $28.65 on Monday. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $5.30 billion, a PE ratio of -81.86 and a beta of 1.67. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $33.26. The stock has a 50-day moving average price of $23.40 and a two-hundred day moving average price of $23.78.

Allegro MicroSystems (NASDAQ:ALGM) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. The company had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $185.35 million. Allegro MicroSystems had a positive return on equity of 4.31% and a negative net margin of 8.45%. The business’s quarterly revenue was down 19.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.25 earnings per share. Analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.