Dimensional Fund Advisors LP Raises Stock Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Dimensional Fund Advisors LP increased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 30.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

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

Allegro MicroSystems Stock Up 12.9 %

Shares of Allegro MicroSystems stock traded up $2.40 during trading on Thursday, hitting $21.09. 5,857,975 shares of the stock traded hands, compared to its average volume of 2,548,610. 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 stock's fifty day simple moving average is $22.75 and its 200 day simple moving average is $22.69. The firm has a market cap of $3.88 billion, a P/E ratio of -60.26 and a beta of 1.57. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $33.26.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates 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 analyst estimates of $185.35 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. Allegro MicroSystems's revenue was down 19.9% on a year-over-year basis. On average, equities analysts predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price objective on shares of Allegro MicroSystems in a report on Monday, February 24th. UBS Group dropped their price target on shares of Allegro MicroSystems from $30.00 to $22.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Mizuho increased their price target on Allegro MicroSystems from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, March 24th. Morgan Stanley upped 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. Finally, Barclays decreased their target price on Allegro MicroSystems from $30.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $28.56.

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.