Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,719,274 shares of the company's stock after purchasing an additional 404,761 shares during the quarter. Dimensional Fund Advisors LP owned 0.93% of Allegro MicroSystems worth $37,582,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in Allegro MicroSystems during the fourth quarter valued at $47,000. Sterling Capital Management LLC increased its stake in shares of Allegro MicroSystems by 59.9% in the 4th quarter. Sterling Capital Management LLC now owns 7,364 shares of the company's stock valued at $161,000 after purchasing an additional 2,758 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in Allegro MicroSystems in the 4th quarter worth about $186,000. Bailard Inc. purchased a new position in Allegro MicroSystems during the fourth quarter worth approximately $254,000. Finally, Keybank National Association OH grew its holdings in Allegro MicroSystems by 14.9% in the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company's stock valued at $257,000 after purchasing an additional 1,522 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Price Performance

Shares of ALGM stock traded up $1.26 during trading hours on Friday, reaching $22.33. The company had a trading volume of 3,093,516 shares, compared to its average volume of 2,535,902. Allegro MicroSystems, Inc. has a 12-month low of $16.38 and a 12-month high of $33.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.00 and a current ratio of 4.91. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of -63.80 and a beta of 1.57. The stock has a fifty day moving average of $22.60 and a 200-day moving average of $22.72.

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

Wall Street Analyst Weigh In

ALGM has been the topic of a number of recent analyst reports. Barclays increased their target price on Allegro MicroSystems from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Friday. Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, January 13th. UBS Group boosted their target price on shares of Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday. Needham & Company LLC decreased their price target on shares of Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Morgan Stanley boosted their price objective on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Allegro MicroSystems presently has a consensus rating of "Moderate Buy" and a consensus price target of $28.44.

About Allegro MicroSystems

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.