Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Acquired by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Allegro MicroSystems by 47.4%, owning 38,563 shares valued at approximately $969,000 at the end of the most recent quarter.
• Analyst ratings for Allegro MicroSystems have been largely positive, with multiple firms raising their price targets; Barclays increased its target to $30.00, while Needham raised theirs to $37.00.
• The company's recent earnings report showed a revenue increase of 21.9% year-over-year, with earnings per share meeting consensus estimates at $0.09.

Natixis Advisors LLC lifted its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 47.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 38,563 shares of the company's stock after buying an additional 12,392 shares during the period. Natixis Advisors LLC's holdings in Allegro MicroSystems were worth $969,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in ALGM. Schonfeld Strategic Advisors LLC purchased a new position in shares of Allegro MicroSystems during the fourth quarter worth $35,433,000. SG Americas Securities LLC purchased a new position in Allegro MicroSystems in the first quarter valued at $805,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Allegro MicroSystems by 18.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,883 shares of the company's stock valued at $668,000 after buying an additional 4,185 shares in the last quarter. Fifth Third Bancorp increased its holdings in Allegro MicroSystems by 63.7% in the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after buying an additional 504 shares in the last quarter. Finally, Frontier Capital Management Co. LLC purchased a new position in Allegro MicroSystems in the fourth quarter valued at $1,994,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALGM. Barclays lifted their price objective on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC lifted their price objective on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a report on Thursday, July 31st. TD Cowen cut their price objective on shares of Allegro MicroSystems from $42.00 to $37.00 and set a "buy" rating for the company in a report on Friday, August 1st. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $42.00 price objective (up previously from $33.00) on shares of Allegro MicroSystems in a report on Wednesday, July 16th. Finally, Wall Street Zen raised shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Allegro MicroSystems currently has an average rating of "Buy" and an average target price of $37.56.

Allegro MicroSystems Stock Up 0.2%

ALGM stock opened at $30.77 on Friday. The stock has a market capitalization of $5.69 billion, a P/E ratio of -83.16 and a beta of 1.74. The firm has a 50-day simple moving average of $32.80 and a 200-day simple moving average of $26.90. The company has a quick ratio of 2.26, a current ratio of 3.70 and a debt-to-equity ratio of 0.34. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The business had revenue of $203.41 million during the quarter, compared to analysts' expectations of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.03 earnings per share. Equities analysts forecast that Allegro MicroSystems, Inc. will post 0.01 earnings per share 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.

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