LMR Partners LLP Invests $3.28 Million in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

LMR Partners LLP acquired a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 150,000 shares of the company's stock, valued at approximately $3,279,000. LMR Partners LLP owned 0.08% of Allegro MicroSystems as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. TD Waterhouse Canada Inc. bought a new position in Allegro MicroSystems during the 4th quarter worth $40,000. Venturi Wealth Management LLC bought a new stake in Allegro MicroSystems during the fourth quarter worth about $47,000. Quarry LP acquired a new stake in shares of Allegro MicroSystems during the 4th quarter worth approximately $79,000. Sterling Capital Management LLC lifted its stake in Allegro MicroSystems by 59.9% during the fourth quarter. Sterling Capital Management LLC now owns 7,364 shares of the company's stock worth $161,000 after purchasing an additional 2,758 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Allegro MicroSystems in the 4th quarter valued at $186,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on ALGM shares. Needham & Company LLC lowered their price objective on shares of Allegro MicroSystems from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Barclays raised their price objective on Allegro MicroSystems from $22.00 to $23.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Morgan Stanley upped their target price on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. UBS Group lifted their target price on shares of Allegro MicroSystems from $22.00 to $25.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Mizuho upped their price target on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $27.38.

Allegro MicroSystems Trading Up 1.8%

Shares of NASDAQ ALGM traded up $0.49 during midday trading on Friday, reaching $27.51. The stock had a trading volume of 2,214,840 shares, compared to its average volume of 2,568,462. The company's 50 day moving average price is $22.54 and its 200 day moving average price is $22.82. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.00 and a current ratio of 4.91. Allegro MicroSystems, Inc. has a twelve month low of $16.38 and a twelve month high of $33.26. The firm has a market cap of $5.07 billion, a price-to-earnings ratio of -78.60 and a beta of 1.57.

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 analysts' consensus estimates of $0.05 by $0.01. Allegro MicroSystems had a negative net margin of 8.45% and a positive return on equity of 4.31%. The business had revenue of $192.82 million for the quarter, compared to analysts' expectations of $185.35 million. During the same quarter in the prior year, the firm posted $0.25 earnings per share. The business's quarterly revenue was down 19.9% compared to the same quarter last year. As a group, sell-side analysts expect that Allegro MicroSystems, Inc. will post 0.01 EPS 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.