Lightrock Netherlands B.V. Sells 10,681 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Lightrock Netherlands B.V. reduced its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 5.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 192,752 shares of the company's stock after selling 10,681 shares during the quarter. Lightrock Netherlands B.V. owned approximately 0.10% of Allegro MicroSystems worth $4,852,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in Allegro MicroSystems by 63.7% during the 1st quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after buying an additional 504 shares during the last quarter. UMB Bank n.a. raised its holdings in Allegro MicroSystems by 68.6% in the 1st quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock worth $36,000 after purchasing an additional 578 shares in the last quarter. TD Waterhouse Canada Inc. bought a new position in Allegro MicroSystems in the 4th quarter worth $40,000. Quarry LP purchased a new position in shares of Allegro MicroSystems during the fourth quarter valued at about $79,000. Finally, GAMMA Investing LLC increased its position in shares of Allegro MicroSystems by 144.3% during the first quarter. GAMMA Investing LLC now owns 4,155 shares of the company's stock valued at $104,000 after buying an additional 2,454 shares during the period. 56.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALGM has been the topic of several research analyst reports. Needham & Company LLC reduced their price target on shares of Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Mizuho upped their price objective on shares of Allegro MicroSystems from $31.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday. Morgan Stanley upped their price objective on shares of Allegro MicroSystems from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Monday, June 9th. UBS Group upped their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Monday. Finally, Barclays upped their price objective 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. One analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems has an average rating of "Moderate Buy" and an average price target of $31.63.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM traded up $0.95 on Tuesday, reaching $36.35. The company's stock had a trading volume of 2,044,811 shares, compared to its average volume of 2,659,111. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $36.55. The company has a market cap of $6.72 billion, a P/E ratio of -93.20 and a beta of 1.75. The company has a 50-day simple moving average of $28.11 and a 200 day simple moving average of $25.16. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.66 and a current ratio of 4.30.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.01. Allegro MicroSystems had a negative net margin of 10.07% and a positive return on equity of 1.04%. The firm had revenue of $192.82 million during the quarter, compared to analysts' expectations of $185.35 million. During the same period in the previous year, the company earned $0.25 EPS. The firm's revenue for the quarter was down 19.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 EPS for the current fiscal year.

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.