MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Sells 21,445 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. trimmed its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 13.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 140,245 shares of the company's stock after selling 21,445 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.08% of Allegro MicroSystems worth $3,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Avior Wealth Management LLC lifted its holdings in shares of Allegro MicroSystems by 5.3% in the 4th quarter. Avior Wealth Management LLC now owns 14,691 shares of the company's stock valued at $321,000 after acquiring an additional 737 shares during the last quarter. Keybank National Association OH raised its position in Allegro MicroSystems by 14.9% during the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company's stock valued at $257,000 after purchasing an additional 1,522 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Allegro MicroSystems by 10.6% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,653 shares of the company's stock valued at $386,000 after purchasing an additional 1,687 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new position in shares of Allegro MicroSystems in the 4th quarter worth approximately $40,000. Finally, Venturi Wealth Management LLC purchased a new position in shares of Allegro MicroSystems in the 4th quarter worth approximately $47,000. 56.45% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALGM. Needham & Company LLC lowered their price target on Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. 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 research note on Monday, February 3rd. Barclays raised their price target on Allegro MicroSystems from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Mizuho boosted their price objective on Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, March 24th. Finally, UBS Group increased their target price on Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Allegro MicroSystems presently has an average rating of "Moderate Buy" and an average target price of $27.38.

Allegro MicroSystems Trading Down 1.9%

Shares of NASDAQ ALGM traded down $0.49 during trading hours on Monday, reaching $25.42. The stock had a trading volume of 1,357,786 shares, compared to its average volume of 2,590,167. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $33.26. The firm has a market cap of $4.68 billion, a price-to-earnings ratio of -72.63 and a beta of 1.57. The business's fifty day moving average price is $22.55 and its two-hundred day moving average price is $23.07. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.01. Allegro MicroSystems had a positive return on equity of 4.31% and a negative net margin of 8.45%. The business had revenue of $192.82 million during the quarter, compared to analysts' expectations of $185.35 million. During the same period in the prior year, the business earned $0.25 EPS. The business's revenue for the quarter was down 19.9% compared to the same quarter last year. Analysts expect 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.