Segall Bryant & Hamill LLC Makes New Investment in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Segall Bryant & Hamill LLC acquired a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,311,526 shares of the company's stock, valued at approximately $32,959,000. Segall Bryant & Hamill LLC owned 0.71% of Allegro MicroSystems as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ALGM. Fifth Third Bancorp increased its position in shares of 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 purchasing an additional 504 shares during the last quarter. UMB Bank n.a. boosted its holdings in Allegro MicroSystems by 68.6% during the 1st quarter. UMB Bank n.a. now owns 1,420 shares of the company's stock valued at $36,000 after acquiring an additional 578 shares during the period. TD Waterhouse Canada Inc. purchased a new position in Allegro MicroSystems during the 4th quarter valued at $40,000. DekaBank Deutsche Girozentrale purchased a new position in Allegro MicroSystems during the 1st quarter valued at $71,000. Finally, Quarry LP purchased a new position in Allegro MicroSystems during the 4th quarter valued at $79,000. Institutional investors own 56.45% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Bank of America boosted their price objective on Allegro MicroSystems from $38.00 to $45.00 and gave the company an "action list buy" rating in a report on Thursday, July 10th. Morgan Stanley raised their price objective on Allegro MicroSystems from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Monday, June 9th. Mizuho boosted their target price on shares of Allegro MicroSystems from $31.00 to $37.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Barclays increased their price target on Allegro MicroSystems from $22.00 to $23.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company reiterated an "overweight" rating and issued a $42.00 price target (up from $33.00) on shares of Allegro MicroSystems in a research note on Wednesday. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $33.63.

Allegro MicroSystems Stock Performance

Shares of ALGM stock traded up $0.83 during mid-day trading on Friday, reaching $36.62. The stock had a trading volume of 1,694,912 shares, compared to its average volume of 2,701,209. The business's fifty day moving average is $30.79 and its 200-day moving average is $25.93. The company has a current ratio of 4.30, a quick ratio of 2.66 and a debt-to-equity ratio of 0.37. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of -93.90 and a beta of 1.75. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year high of $38.45.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.06 EPS for the quarter, topping the consensus estimate 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 1.04% and a negative net margin of 10.07%. Allegro MicroSystems's revenue for the quarter was down 19.9% compared to the same quarter last year. During the same period last year, the company earned $0.25 earnings per share. On average, research analysts forecast that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current 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.