18,454 Shares in Allegro MicroSystems, Inc. (NASDAQ:ALGM) Bought by Choreo LLC

Choreo LLC bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,454 shares of the company’s stock, valued at approximately $516,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Allegro MicroSystems by 13.5% in the first quarter. Vanguard Group Inc. now owns 8,400,064 shares of the company’s stock valued at $226,466,000 after buying an additional 999,939 shares in the last quarter. 1832 Asset Management L.P. bought a new position in shares of Allegro MicroSystems in the fourth quarter valued at $28,756,000. Bamco Inc. NY lifted its stake in shares of Allegro MicroSystems by 477.6% in the first quarter. Bamco Inc. NY now owns 668,811 shares of the company’s stock valued at $18,031,000 after buying an additional 553,016 shares in the last quarter. Norges Bank bought a new position in shares of Allegro MicroSystems in the fourth quarter valued at $15,791,000. Finally, GW&K Investment Management LLC lifted its stake in shares of Allegro MicroSystems by 90.9% in the fourth quarter. GW&K Investment Management LLC now owns 1,050,208 shares of the company’s stock valued at $31,790,000 after buying an additional 499,936 shares in the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Price Performance

ALGM opened at $22.44 on Monday. The company has a market capitalization of $4.35 billion, a price-to-earnings ratio of 28.77 and a beta of 1.68. The company has a quick ratio of 2.98, a current ratio of 4.65 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $25.19 and a 200-day moving average price of $27.44. Allegro MicroSystems, Inc. has a twelve month low of $20.42 and a twelve month high of $34.46.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $166.90 million during the quarter, compared to the consensus estimate of $165.04 million. Allegro MicroSystems had a net margin of 7.91% and a return on equity of 13.88%. The company’s revenue was down 40.0% on a year-over-year basis. During the same quarter last year, the company earned $0.34 earnings per share. Equities analysts expect that Allegro MicroSystems, Inc. will post 0.16 EPS for the current year.

Insider Transactions at Allegro MicroSystems

In other news, major shareholder Electric Co. Ltd. Sanken sold 10,017,315 shares of Allegro MicroSystems stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $23.16, for a total value of $232,001,015.40. Following the completion of the transaction, the insider now owns 59,732,782 shares in the company, valued at $1,383,411,231.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ALGM shares. TD Cowen raised their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Thursday, June 13th. UBS Group assumed coverage on shares of Allegro MicroSystems in a research report on Tuesday, September 3rd. They set a “buy” rating and a $33.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $33.00 price target on shares of Allegro MicroSystems in a research report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.44.

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.