Allegro MicroSystems (NASDAQ:ALGM) PT Lowered to $32.00

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) had its price objective lowered by stock analysts at Barclays from $35.00 to $32.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 19.58% from the company's previous close.

ALGM has been the subject of several other reports. Wolfe Research upgraded Allegro MicroSystems from a "peer perform" rating to an "outperform" rating and set a $35.00 price target for the company in a report on Friday, February 2nd. Mizuho decreased their price target on Allegro MicroSystems from $45.00 to $35.00 and set a "buy" rating for the company in a report on Friday. TD Cowen dropped their price objective on shares of Allegro MicroSystems from $35.00 to $32.00 and set a "buy" rating on the stock in a research note on Friday. Needham & Company LLC cut their price target on Allegro MicroSystems from $40.00 to $33.00 and set a "buy" rating on the stock in a research note on Friday. Finally, Evercore ISI started coverage on shares of Allegro MicroSystems in a research report on Tuesday, April 16th. They issued an "outperform" rating and a $36.00 target price for the company. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $37.13.

Allegro MicroSystems Trading Down 3.3 %

ALGM traded down $0.91 on Friday, reaching $26.76. 2,745,407 shares of the company's stock were exchanged, compared to its average volume of 1,721,252. The company has a market cap of $5.17 billion, a price-to-earnings ratio of 23.37 and a beta of 1.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 4.57. Allegro MicroSystems has a twelve month low of $23.64 and a twelve month high of $53.05. The company's 50 day moving average is $28.21 and its 200-day moving average is $28.38.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Trillium Asset Management LLC boosted its stake in Allegro MicroSystems by 1.9% in the 1st quarter. Trillium Asset Management LLC now owns 265,693 shares of the company's stock worth $7,163,000 after purchasing an additional 4,930 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 23.1% in the first quarter. ProShare Advisors LLC now owns 12,157 shares of the company's stock valued at $328,000 after purchasing an additional 2,279 shares in the last quarter. Russell Investments Group Ltd. boosted its position in shares of Allegro MicroSystems by 238.9% in the first quarter. Russell Investments Group Ltd. now owns 55,734 shares of the company's stock worth $1,503,000 after buying an additional 39,289 shares during the period. Qsemble Capital Management LP acquired a new position in Allegro MicroSystems during the first quarter valued at $583,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Allegro MicroSystems in the 1st quarter worth about $1,459,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Company 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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.

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