Massachusetts Financial Services Co. MA Buys 39,767 Shares of Allegro MicroSystems, Inc. $ALGM

Key Points

• Massachusetts Financial Services Co. MA increased its stake in Allegro MicroSystems by 98.5% in Q4, buying 39,767 shares to hold 80,157 shares valued at about $2.115 million.
• Allegro beat Q4 estimates with $0.15 EPS vs. $0.14 expected and revenue of $229.21 million (up 28.9% YoY), though the company still shows a negative net margin and a deeply negative PE.
• Analysts have been raising targets and ratings—consensus target ~$45 with 10 Buy ratings vs. one Hold and one Sell—and the stock is trading near its 52-week high after a recent ~4.7% uptick.

Massachusetts Financial Services Co. MA increased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 98.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,157 shares of the company's stock after purchasing an additional 39,767 shares during the period. Massachusetts Financial Services Co. MA's holdings in Allegro MicroSystems were worth $2,115,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Hantz Financial Services Inc. boosted its holdings in shares of Allegro MicroSystems by 86.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company's stock worth $26,000 after buying an additional 419 shares in the last quarter. Quent Capital LLC bought a new position in shares of Allegro MicroSystems during the 3rd quarter worth approximately $28,000. NewEdge Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 12,315.0% during the 3rd quarter. NewEdge Advisors LLC now owns 2,483 shares of the company's stock worth $73,000 after buying an additional 2,463 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 78.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 3,945 shares of the company's stock worth $115,000 after buying an additional 1,735 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Allegro MicroSystems by 3,614.0% during the 3rd quarter. Global Retirement Partners LLC now owns 4,494 shares of the company's stock worth $131,000 after buying an additional 4,373 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems Trading Up 4.7%

Shares of Allegro MicroSystems stock opened at $40.00 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.39 and a current ratio of 3.65. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $43.86. The stock has a 50 day moving average price of $35.39 and a two-hundred day moving average price of $31.35. The stock has a market capitalization of $7.41 billion, a PE ratio of -500.00 and a beta of 1.70.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.14 by $0.01. Allegro MicroSystems had a positive return on equity of 4.35% and a negative net margin of 1.57%.The firm had revenue of $229.21 million during the quarter, compared to analysts' expectations of $220.78 million. During the same quarter last year, the firm posted $0.07 earnings per share. The company's revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, equities analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on ALGM. Wells Fargo & Company increased their price target on Allegro MicroSystems from $45.00 to $48.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Morgan Stanley upgraded Allegro MicroSystems from an "equal weight" rating to an "overweight" rating and set a $51.00 price target on the stock in a report on Friday, February 13th. Jefferies Financial Group restated a "buy" rating and set a $45.00 price target on shares of Allegro MicroSystems in a report on Thursday, February 19th. Bank of America increased their price target on Allegro MicroSystems from $36.00 to $39.00 and gave the stock a "buy" rating in a report on Wednesday, January 21st. Finally, TD Cowen increased their price target on Allegro MicroSystems from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Ten investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allegro MicroSystems has an average rating of "Moderate Buy" and a consensus target price of $45.00.

About Allegro MicroSystems

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.

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