Altfest L J & Co. Inc. Acquires New Stake in Allegro MicroSystems, Inc. $ALGM

Altfest L J & Co. Inc. acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,287 shares of the company’s stock, valued at approximately $430,000.

Other large investors have also made changes to their positions in the company. Hantz Financial Services Inc. boosted its stake in Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock worth $26,000 after buying an additional 419 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Allegro MicroSystems in the 3rd quarter worth about $28,000. NewEdge Advisors LLC raised its holdings in shares of Allegro MicroSystems by 12,315.0% in the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company’s stock worth $73,000 after purchasing an additional 2,463 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Allegro MicroSystems by 78.5% in the 3rd quarter. Nisa Investment Advisors LLC now owns 3,945 shares of the company’s stock worth $115,000 after purchasing an additional 1,735 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of Allegro MicroSystems by 3,614.0% in the 3rd quarter. Global Retirement Partners LLC now owns 4,494 shares of the company’s stock worth $131,000 after purchasing an additional 4,373 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $37.50 on Monday. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of -468.75 and a beta of 1.70. The stock has a 50 day moving average of $35.44 and a 200-day moving average of $31.06. The company has a current ratio of 3.65, a quick ratio of 2.39 and a debt-to-equity ratio of 0.30. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $43.86.

Allegro MicroSystems (NASDAQ:ALGM) last issued its earnings results on Thursday, January 29th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The company had revenue of $229.21 million during the quarter, compared to analyst estimates of $220.78 million. Allegro MicroSystems had a positive return on equity of 4.35% and a negative net margin of 1.57%.The business’s revenue was up 28.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 EPS. As a group, analysts forecast that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ALGM shares. Wall Street Zen upgraded Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 target price on the stock in a report on Friday, February 13th. Needham & Company LLC raised their target price on Allegro MicroSystems from $41.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, February 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Allegro MicroSystems in a report on Monday, December 29th. Finally, Wells Fargo & Company raised their price objective on Allegro MicroSystems from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.