Deutsche Bank AG Boosts Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Deutsche Bank AG raised its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 295.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,237 shares of the company's stock after buying an additional 19,609 shares during the period. Deutsche Bank AG's holdings in Allegro MicroSystems were worth $574,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new position in shares of Allegro MicroSystems in the 4th quarter worth $40,000. Venturi Wealth Management LLC bought a new position in shares of Allegro MicroSystems in the 4th quarter worth $47,000. Quarry LP bought a new position in shares of Allegro MicroSystems in the 4th quarter worth $79,000. Sterling Capital Management LLC grew its holdings in shares of Allegro MicroSystems by 59.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,364 shares of the company's stock valued at $161,000 after purchasing an additional 2,758 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at $186,000. Institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Trading Up 1.9%

Allegro MicroSystems stock traded up $0.49 during trading hours on Monday, reaching $25.84. The stock had a trading volume of 1,251,113 shares, compared to its average volume of 2,592,414. The stock has a market cap of $4.78 billion, a PE ratio of -73.83 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. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. The company has a fifty day simple moving average of $22.43 and a 200-day simple moving average of $23.27.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on ALGM. Morgan Stanley increased their target price on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Mizuho increased their target price on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, March 24th. Barclays increased their target price on shares of Allegro MicroSystems from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Needham & Company LLC reduced their target price on shares of Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, UBS Group increased their target price on shares of Allegro MicroSystems from $22.00 to $25.00 and gave the company a "buy" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Allegro MicroSystems presently has an average rating of "Moderate Buy" and a consensus target price of $27.38.

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.