KBC Group NV Sells 16,208 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

KBC Group NV decreased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 72.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,127 shares of the company's stock after selling 16,208 shares during the quarter. KBC Group NV's holdings in Allegro MicroSystems were worth $154,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Fifth Third Bancorp increased its stake in shares of 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 purchasing an additional 504 shares during the period. UMB Bank n.a. boosted its holdings in shares of Allegro MicroSystems by 68.6% in the first quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock valued at $36,000 after acquiring an additional 578 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in shares of Allegro MicroSystems in the fourth quarter valued at approximately $40,000. Quarry LP bought a new position in shares of Allegro MicroSystems in the fourth quarter valued at approximately $79,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Allegro MicroSystems by 144.3% in the first quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock valued at $104,000 after acquiring an additional 2,454 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Stock Performance

ALGM traded up $0.62 during trading on Thursday, hitting $37.51. The stock had a trading volume of 3,996,535 shares, compared to its average volume of 2,674,058. The firm has a market cap of $6.94 billion, a PE ratio of -96.18 and a beta of 1.75. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $38.42. The company has a current ratio of 4.30, a quick ratio of 2.66 and a debt-to-equity ratio of 0.37. The company has a 50 day simple moving average of $28.46 and a 200-day simple moving average of $25.24.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The firm had revenue of $192.82 million for the quarter, compared to the consensus estimate of $185.35 million. Allegro MicroSystems had a negative net margin of 10.07% and a positive return on equity of 1.04%. The business's quarterly revenue was down 19.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.25 EPS. Analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

ALGM has been the subject of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating for the company in a report on Friday, May 9th. Bank of America raised their target price on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the stock an "action list buy" rating in a report on Thursday. Mizuho raised their target price on shares of Allegro MicroSystems from $31.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $33.00 price objective (up previously from $26.00) on shares of Allegro MicroSystems in a research note on Monday, June 16th. Finally, UBS Group lifted their target price on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the company a "buy" rating in a research note on Monday. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Allegro MicroSystems has a consensus rating of "Buy" and a consensus price target of $32.50.

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.