Lightrock Netherlands B.V. Purchases Shares of 354,390 Allegro MicroSystems, Inc. $ALGM

Key Points

• Lightrock Netherlands B.V. bought a new stake of 354,390 Allegro MicroSystems shares in Q4, valued at about $9.35 million, representing roughly 0.19% of Allegro and the firm's 24th-largest holding.
• Multiple analysts have raised ratings and price targets (Barclays, TD Cowen, Wells Fargo, Needham), leaving ALGM with a consensus rating of "Moderate Buy" and a consensus price target of $45.
• Allegro beat quarterly expectations with EPS of $0.15 vs. $0.14 expected and revenue of $229.2M (up 28.9% YoY), despite a slight negative net margin.

Lightrock Netherlands B.V. purchased a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 354,390 shares of the company's stock, valued at approximately $9,349,000. Allegro MicroSystems accounts for 1.0% of Lightrock Netherlands B.V.'s holdings, making the stock its 24th largest position. Lightrock Netherlands B.V. owned about 0.19% of Allegro MicroSystems at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ALGM. Hantz Financial Services Inc. boosted its position in Allegro MicroSystems by 86.9% during the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company's stock valued at $26,000 after buying an additional 419 shares during the period. Quent Capital LLC purchased a new stake in Allegro MicroSystems during the third quarter valued at about $28,000. Farther Finance Advisors LLC boosted its position in Allegro MicroSystems by 815.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,142 shares of the company's stock valued at $57,000 after buying an additional 1,908 shares during the period. NewEdge Advisors LLC boosted its position in Allegro MicroSystems by 12,315.0% during the third quarter. NewEdge Advisors LLC now owns 2,483 shares of the company's stock valued at $73,000 after buying an additional 2,463 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Allegro MicroSystems by 78.5% during the third quarter. Nisa Investment Advisors LLC now owns 3,945 shares of the company's stock valued at $115,000 after buying an additional 1,735 shares during the period. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALGM has been the subject of several analyst reports. Wall Street Zen upgraded shares of Allegro MicroSystems from a "hold" rating to a "buy" rating in a research report on Sunday, January 18th. Barclays upped their price target on shares of Allegro MicroSystems from $35.00 to $46.00 and gave the company an "overweight" rating in a research report on Friday, January 30th. TD Cowen upped their price target on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Friday, January 30th. Wells Fargo & Company upped their price objective on shares of Allegro MicroSystems from $45.00 to $48.00 and gave the company an "overweight" rating in a research note on Wednesday, February 11th. Finally, Needham & Company LLC upped their price objective on shares of Allegro MicroSystems from $41.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, February 19th. Ten equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.00.

Allegro MicroSystems Price Performance

ALGM stock opened at $37.25 on Thursday. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $43.86. The company has a market cap of $6.90 billion, a P/E ratio of -465.63 and a beta of 1.70. The firm has a 50-day moving average of $35.42 and a 200 day moving average of $31.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.65 and a quick ratio of 2.39.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings results on Thursday, January 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. Allegro MicroSystems had a negative net margin of 1.57% and a positive return on equity of 4.35%. The company had revenue of $229.21 million during the quarter, compared to the consensus estimate of $220.78 million. During the same period in the prior year, the firm earned $0.07 earnings per share. Allegro MicroSystems's revenue was up 28.9% on a year-over-year basis. On average, sell-side analysts forecast that Allegro MicroSystems, Inc. will post 0.01 EPS for the current year.

Allegro MicroSystems Profile

Allegro MicroSystems, Inc NASDAQ: ALGM is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro's product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.