Quantbot Technologies LP Raises Position in Allegro MicroSystems, Inc. $ALGM

Quantbot Technologies LP lifted its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 317.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,708 shares of the company’s stock after acquiring an additional 54,528 shares during the quarter. Quantbot Technologies LP’s holdings in Allegro MicroSystems were worth $2,094,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. boosted its holdings in Allegro MicroSystems by 86.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after purchasing an additional 419 shares in the last quarter. Quent Capital LLC acquired a new stake in shares of Allegro MicroSystems in the 3rd quarter valued at approximately $28,000. Nisa Investment Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 158.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock valued at $76,000 after buying an additional 1,356 shares during the period. TD Waterhouse Canada Inc. boosted its stake in shares of Allegro MicroSystems by 82.9% in the second quarter. TD Waterhouse Canada Inc. now owns 3,038 shares of the company’s stock valued at $104,000 after buying an additional 1,377 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Allegro MicroSystems by 3,614.0% during the third quarter. Global Retirement Partners LLC now owns 4,494 shares of the company’s stock worth $131,000 after acquiring an additional 4,373 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

NASDAQ:ALGM opened at $34.07 on Thursday. The company has a current ratio of 3.65, a quick ratio of 2.39 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average price of $34.76 and a two-hundred day moving average price of $30.77. Allegro MicroSystems, Inc. has a twelve month low of $16.38 and a twelve month high of $43.86. The company has a market capitalization of $6.31 billion, a P/E ratio of -425.88 and a beta of 1.64.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, January 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.01. Allegro MicroSystems had a negative net margin of 1.57% and a positive return on equity of 4.35%. The company had revenue of $229.21 million for the quarter, compared to the consensus estimate of $220.78 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 28.9% compared to the same quarter last year. As a group, research analysts expect that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALGM has been the subject of several research analyst reports. Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective for the company in a research report on Friday, February 13th. UBS Group upped their price target on shares of Allegro MicroSystems from $40.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Needham & Company LLC raised their price objective on shares of Allegro MicroSystems from $41.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, February 19th. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a report on Sunday, January 18th. Finally, Barclays increased their target price on shares of Allegro MicroSystems from $35.00 to $46.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allegro MicroSystems currently has an average rating of “Moderate Buy” and a consensus price target of $45.00.

About Allegro MicroSystems

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.