Allegro MicroSystems, Inc. $ALGM Shares Sold by Analog Century Management LP

Key Points

• Analog Century Management cut its stake in Allegro MicroSystems by 14.3% in Q3, selling 196,637 shares and ending the quarter with 1,174,953 shares (about $34.3M), representing ~0.63% of Allegro and ~1.8% of Analog Century’s portfolio.
• Q4 results topped estimates: Allegro reported EPS of $0.15 vs. $0.14 expected and revenue of $229.2M vs. $220.8M, with revenue up 28.9% YoY despite a negative net margin of 1.57%.
• Analyst sentiment is broadly positive with a consensus “Moderate Buy” (10 Buys, 1 Hold, 1 Sell) and an average price target of $45, compared with a recent share price near $31.13.

Analog Century Management LP reduced its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,174,953 shares of the company's stock after selling 196,637 shares during the quarter. Allegro MicroSystems accounts for approximately 1.8% of Analog Century Management LP's investment portfolio, making the stock its 23rd biggest holding. Analog Century Management LP owned approximately 0.63% of Allegro MicroSystems worth $34,309,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ALGM. PNC Financial Services Group Inc. increased its holdings in Allegro MicroSystems by 2.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,713 shares of the company's stock worth $430,000 after acquiring an additional 381 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Allegro MicroSystems by 86.9% during the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company's stock valued at $26,000 after acquiring an additional 419 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Allegro MicroSystems by 2.1% during the third quarter. Advisors Asset Management Inc. now owns 22,499 shares of the company's stock valued at $657,000 after acquiring an additional 466 shares during the last quarter. Arizona State Retirement System lifted its position in shares of Allegro MicroSystems by 1.8% in the third quarter. Arizona State Retirement System now owns 38,293 shares of the company's stock valued at $1,118,000 after acquiring an additional 685 shares in the last quarter. Finally, Alps Advisors Inc. lifted its position in shares of Allegro MicroSystems by 3.0% in the third quarter. Alps Advisors Inc. now owns 28,983 shares of the company's stock valued at $846,000 after acquiring an additional 845 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Stock Down 0.1%

Shares of NASDAQ:ALGM opened at $31.13 on Friday. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $43.86. The company has a quick ratio of 2.39, a current ratio of 3.65 and a debt-to-equity ratio of 0.30. The firm's 50-day simple moving average is $35.56 and its 200-day simple moving average is $30.83. The company has a market cap of $5.77 billion, a price-to-earnings ratio of -389.13 and a beta of 1.64.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The firm had revenue of $229.21 million during the quarter, compared to analysts' expectations of $220.78 million. Allegro MicroSystems had a negative net margin of 1.57% and a positive return on equity of 4.35%. The firm's revenue for the quarter was up 28.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.07 earnings per share. As a group, equities research analysts predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Analyst Ratings Changes

ALGM has been the subject of several research reports. Mizuho set a $38.00 price target on Allegro MicroSystems in a research report on Tuesday, December 16th. TD Cowen lifted their target price on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Barclays upped their target price on shares of Allegro MicroSystems from $35.00 to $46.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. Weiss Ratings reiterated a "sell (e+)" rating on shares of Allegro MicroSystems in a research report on Monday, December 29th. Finally, UBS Group raised their price target on shares of Allegro MicroSystems from $40.00 to $44.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $45.00.

Allegro MicroSystems Company 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.

Want to see what other hedge funds are holding ALGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.