XTX Topco Ltd Invests $856,000 in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

XTX Topco Ltd purchased a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 30,308 shares of the company’s stock, valued at approximately $856,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Allegro MicroSystems by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 8,400,064 shares of the company’s stock valued at $226,466,000 after acquiring an additional 999,939 shares during the period. 1832 Asset Management L.P. purchased a new position in Allegro MicroSystems in the fourth quarter valued at approximately $28,756,000. Bamco Inc. NY grew its holdings in Allegro MicroSystems by 477.6% during the first quarter. Bamco Inc. NY now owns 668,811 shares of the company’s stock valued at $18,031,000 after purchasing an additional 553,016 shares during the period. Norges Bank purchased a new stake in Allegro MicroSystems in the fourth quarter worth $15,791,000. Finally, Silvercrest Asset Management Group LLC raised its stake in shares of Allegro MicroSystems by 363.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 632,546 shares of the company’s stock valued at $17,053,000 after buying an additional 495,935 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Price Performance

ALGM stock opened at $22.69 on Friday. The firm has a 50 day moving average of $24.35 and a 200-day moving average of $27.20. The firm has a market capitalization of $4.40 billion, a P/E ratio of 29.09 and a beta of 1.68. Allegro MicroSystems, Inc. has a 12 month low of $20.42 and a 12 month high of $33.26. The company has a current ratio of 4.65, a quick ratio of 2.98 and a debt-to-equity ratio of 0.18.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.03 EPS for the quarter, beating 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 business’s quarterly revenue was down 40.0% compared to the same quarter last year. During the same period last year, the firm earned $0.34 EPS. As a group, sell-side analysts predict that Allegro MicroSystems, Inc. will post 0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $33.00 price target on shares of Allegro MicroSystems in a research note on Friday, August 2nd. UBS Group started coverage on shares of Allegro MicroSystems in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 target price for the company. Finally, TD Cowen upped their price target 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. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $34.44.

Insider Buying and Selling

In other Allegro MicroSystems news, major shareholder Electric Co. Ltd. Sanken sold 10,017,315 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $23.16, for a total value of $232,001,015.40. Following the sale, the insider now owns 59,732,782 shares of the company’s stock, valued at approximately $1,383,411,231.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by company 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.