Two Sigma Advisers LP Purchases 80,400 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Two Sigma Advisers LP lifted its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 12.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 707,400 shares of the company's stock after buying an additional 80,400 shares during the quarter. Two Sigma Advisers LP owned approximately 0.38% of Allegro MicroSystems worth $15,464,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Two Sigma Investments LP lifted its stake in shares of Allegro MicroSystems by 3.9% during the 4th quarter. Two Sigma Investments LP now owns 1,434,188 shares of the company's stock valued at $31,351,000 after buying an additional 54,485 shares in the last quarter. Toronto Dominion Bank lifted its stake in shares of Allegro MicroSystems by 20.5% during the 4th quarter. Toronto Dominion Bank now owns 19,085 shares of the company's stock valued at $417,000 after buying an additional 3,253 shares in the last quarter. Silvercrest Asset Management Group LLC lifted its stake in shares of Allegro MicroSystems by 21.9% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 637,571 shares of the company's stock valued at $13,937,000 after buying an additional 114,476 shares in the last quarter. Polar Asset Management Partners Inc. lifted its stake in shares of Allegro MicroSystems by 47.1% during the 4th quarter. Polar Asset Management Partners Inc. now owns 378,704 shares of the company's stock valued at $8,278,000 after buying an additional 121,300 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Allegro MicroSystems by 15.6% during the 4th quarter. Quantinno Capital Management LP now owns 18,011 shares of the company's stock valued at $394,000 after buying an additional 2,436 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALGM. Morgan Stanley boosted their price target on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. UBS Group boosted their price target on shares of Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Barclays boosted their price target on shares of 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 target on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, March 24th. Finally, Needham & Company LLC decreased 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 note on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.38.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM traded up $1.06 during mid-day trading on Tuesday, hitting $26.48. 251,155 shares of the company's stock traded hands, compared to its average volume of 2,581,161. The company's 50-day moving average is $22.55 and its two-hundred day moving average is $23.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. The company has a market capitalization of $4.88 billion, a P/E ratio of -75.59 and a beta of 1.57. Allegro MicroSystems, Inc. has a 1 year low of $16.38 and a 1 year high of $33.26.

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