Aurora Investment Counsel Acquires 4,801 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Aurora Investment Counsel lifted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,806 shares of the company’s stock after purchasing an additional 4,801 shares during the quarter. Aurora Investment Counsel’s holdings in Allegro MicroSystems were worth $1,417,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Allegro MicroSystems by 13.5% during the first quarter. Vanguard Group Inc. now owns 8,400,064 shares of the company’s stock worth $226,466,000 after buying an additional 999,939 shares during the last quarter. Bamco Inc. NY increased its holdings in Allegro MicroSystems by 477.6% during the first quarter. Bamco Inc. NY now owns 668,811 shares of the company’s stock worth $18,031,000 after buying an additional 553,016 shares during the last quarter. Silvercrest Asset Management Group LLC increased its holdings in shares of Allegro MicroSystems by 363.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 632,546 shares of the company’s stock valued at $17,053,000 after purchasing an additional 495,935 shares during the last quarter. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Allegro MicroSystems in the second quarter valued at $13,120,000. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Allegro MicroSystems by 45.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,282,122 shares of the company’s stock valued at $36,207,000 after purchasing an additional 397,681 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ALGM. Barclays decreased their price objective on shares of Allegro MicroSystems from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. UBS Group assumed coverage on shares of Allegro MicroSystems in a report on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 price objective on the stock. Needham & Company LLC reduced their target price on shares of Allegro MicroSystems from $33.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Morgan Stanley assumed coverage on shares of Allegro MicroSystems in a research report on Thursday, November 7th. They issued an “equal weight” rating and a $21.00 target price for the company. Finally, Mizuho set a $26.00 target price on shares of Allegro MicroSystems in a research report on Friday, October 18th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.80.

Allegro MicroSystems Trading Up 3.3 %

ALGM opened at $20.14 on Thursday. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -143.86 and a beta of 1.69. The company has a quick ratio of 2.80, a current ratio of 4.22 and a debt-to-equity ratio of 0.42. Allegro MicroSystems, Inc. has a twelve month low of $18.59 and a twelve month high of $33.26. The company has a 50-day simple moving average of $21.52 and a 200 day simple moving average of $25.21.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $187.39 million during the quarter, compared to analysts’ expectations of $187.52 million. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.48%. The business’s revenue for the quarter was down 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 earnings per share.

Insider Activity

In other news, SVP Michael Doogue acquired 15,000 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $19.00 per share, with a total value of $285,000.00. Following the completion of the purchase, the senior vice president now directly owns 246,086 shares of the company’s stock, valued at $4,675,634. This represents a 6.49 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.50% of the stock is currently owned by insiders.

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.