Universal Beteiligungs und Servicegesellschaft mbH Takes $355,000 Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has acquired 14,131 shares of Allegro MicroSystems, valued at approximately $355,000, indicating growing interest from institutional investors.
• Fifth Third Bancorp and UMB Bank n.a. both significantly increased their holdings in Allegro MicroSystems by 63.7% and 68.6%, respectively, during the first quarter.
• Research firms upgraded Allegro MicroSystems' outlook, with the consensus rating moving to "Buy" and an average price target set at $37.56.

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,131 shares of the company's stock, valued at approximately $355,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ALGM. Fifth Third Bancorp raised its holdings in Allegro MicroSystems by 63.7% during the first quarter. Fifth Third Bancorp now owns 1,295 shares of the company's stock valued at $33,000 after buying an additional 504 shares in the last quarter. UMB Bank n.a. raised its position in shares of 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 last quarter. TD Waterhouse Canada Inc. bought a new position in Allegro MicroSystems during the 4th quarter worth about $40,000. DekaBank Deutsche Girozentrale bought a new position in shares of Allegro MicroSystems in the 1st quarter valued at about $71,000. Finally, Quarry LP acquired a new stake in Allegro MicroSystems in the 4th quarter valued at about $79,000. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ALGM. Morgan Stanley decreased their target price on shares of Allegro MicroSystems from $38.00 to $35.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Needham & Company LLC upped their price target on shares of Allegro MicroSystems from $25.00 to $37.00 and gave the company a "buy" rating in a research report on Thursday, July 31st. UBS Group upped their price objective on shares of Allegro MicroSystems from $35.00 to $42.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Wall Street Zen upgraded Allegro MicroSystems from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Barclays boosted their target price on shares of Allegro MicroSystems from $23.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One investment analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $37.56.

Allegro MicroSystems Trading Down 0.3%

Shares of NASDAQ:ALGM traded down $0.10 during trading on Thursday, hitting $30.71. 544,385 shares of the company's stock were exchanged, compared to its average volume of 2,881,493. Allegro MicroSystems, Inc. has a 1-year low of $16.38 and a 1-year high of $38.45. The company has a current ratio of 3.70, a quick ratio of 2.26 and a debt-to-equity ratio of 0.34. The firm has a 50-day moving average price of $32.59 and a two-hundred day moving average price of $26.80. The firm has a market cap of $5.68 billion, a P/E ratio of -83.02 and a beta of 1.74.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $203.41 million for the quarter, compared to analyst estimates of $197.82 million. Allegro MicroSystems had a negative net margin of 9.00% and a positive return on equity of 2.09%. The business's quarterly revenue was up 21.9% compared to the same quarter last year. During the same period last year, the firm earned $0.03 EPS. Equities analysts predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Allegro MicroSystems Profile

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.