Deutsche Bank AG boosted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 295.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,237 shares of the company's stock after acquiring an additional 19,609 shares during the quarter. Deutsche Bank AG's holdings in Allegro MicroSystems were worth $574,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. Raymond James Financial Inc. acquired a new stake in Allegro MicroSystems in the 4th quarter valued at about $15,145,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Allegro MicroSystems in the 4th quarter valued at about $35,433,000. JPMorgan Chase & Co. lifted its position in Allegro MicroSystems by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company's stock worth $256,851,000 after buying an additional 1,884,578 shares in the last quarter. Keybank National Association OH raised its holdings in shares of Allegro MicroSystems by 14.9% during the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company's stock worth $257,000 after acquiring an additional 1,522 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its position in Allegro MicroSystems by 25.7% during the fourth quarter. Victory Capital Management Inc. now owns 39,536 shares of the company's stock valued at $864,000 after purchasing an additional 8,075 shares during the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have commented on ALGM. UBS Group boosted their target price on shares of Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Mizuho raised their price target on Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, March 24th. 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 report on Friday, May 9th. Barclays lifted their target price on Allegro MicroSystems from $22.00 to $23.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, Morgan Stanley lifted their price target 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. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $27.38.
View Our Latest Research Report on Allegro MicroSystems
Allegro MicroSystems Price Performance
ALGM traded down $0.56 during midday trading on Friday, hitting $25.19. The company had a trading volume of 1,704,200 shares, compared to its average volume of 2,593,224. Allegro MicroSystems, Inc. has a twelve month low of $16.38 and a twelve month high of $33.26. The company has a market capitalization of $4.66 billion, a PE ratio of -71.97 and a beta of 1.57. 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's 50-day simple moving average is $22.45 and its 200-day simple moving average is $23.18.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.01. The firm had revenue of $192.82 million for the quarter, compared to analyst estimates of $185.35 million. Allegro MicroSystems had a positive return on equity of 4.31% and a negative net margin of 8.45%. The business's quarterly revenue was down 19.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 EPS. Equities research analysts predict that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.
Allegro MicroSystems Profile
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Free Report)
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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