Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Purchased by Silvercrest Asset Management Group LLC

Silvercrest Asset Management Group LLC grew its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 21.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 637,571 shares of the company's stock after purchasing an additional 114,476 shares during the quarter. Silvercrest Asset Management Group LLC owned about 0.35% of Allegro MicroSystems worth $13,937,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new stake in Allegro MicroSystems in the 4th quarter valued at $40,000. Venturi Wealth Management LLC acquired a new stake in shares of Allegro MicroSystems during the fourth quarter worth $47,000. Quarry LP acquired a new stake in shares of Allegro MicroSystems during the fourth quarter worth $79,000. Sterling Capital Management LLC boosted its position 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 valued at $161,000 after acquiring an additional 2,758 shares during the period. Finally, Aster Capital Management DIFC Ltd acquired a new position in shares of Allegro MicroSystems in the fourth quarter valued at about $186,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Barclays raised their target price on shares of Allegro MicroSystems from $22.00 to $23.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Needham & Company LLC cut their price target on Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Friday, May 9th. UBS Group raised their price objective on Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Mizuho upped their target price on Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $27.38.

Allegro MicroSystems Price Performance

Shares of Allegro MicroSystems stock traded down $0.62 on Friday, reaching $25.29. 408,980 shares of the stock were exchanged, compared to its average volume of 2,574,353. 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 firm has a market cap of $4.66 billion, a PE ratio of -72.28 and a beta of 1.57. The firm's 50 day moving average is $22.62 and its 200-day moving average is $23.00. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $33.26.

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

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.