SG Americas Securities LLC trimmed its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM – Free Report) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,273 shares of the company’s stock after selling 930 shares during the period. SG Americas Securities LLC’s holdings in Allegro MicroSystems were worth $419,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its position in shares of Allegro MicroSystems by 43.3% during the first quarter. FMR LLC now owns 8,058,071 shares of the company’s stock worth $386,707,000 after purchasing an additional 2,436,308 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Allegro MicroSystems during the first quarter worth about $39,429,000. Millennium Management LLC lifted its position in shares of Allegro MicroSystems by 1,087.0% during the fourth quarter. Millennium Management LLC now owns 1,211,738 shares of the company’s stock worth $36,376,000 after purchasing an additional 1,109,652 shares during the last quarter. Norges Bank bought a new position in shares of Allegro MicroSystems during the fourth quarter worth about $19,174,000. Finally, Clearbridge Investments LLC lifted its position in shares of Allegro MicroSystems by 18.6% during the first quarter. Clearbridge Investments LLC now owns 4,029,946 shares of the company’s stock worth $114,450,000 after purchasing an additional 632,036 shares during the last quarter. 50.63% of the stock is owned by hedge funds and other institutional investors.
Allegro MicroSystems Stock Up 1.8 %
Shares of Allegro MicroSystems stock opened at $32.44 on Friday. The stock’s fifty day moving average is $38.83 and its 200-day moving average is $41.23. The firm has a market capitalization of $6.24 billion, a PE ratio of 26.59 and a beta of 1.80. The company has a quick ratio of 3.43, a current ratio of 4.56 and a debt-to-equity ratio of 0.02. Allegro MicroSystems, Inc. has a 12-month low of $19.80 and a 12-month high of $53.05.
Insider Activity at Allegro MicroSystems
In other Allegro MicroSystems news, CFO Derek D’antilio purchased 1,488 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average cost of $33.63 per share, with a total value of $50,041.44. Following the completion of the transaction, the chief financial officer now owns 142,899 shares of the company’s stock, valued at $4,805,693.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Allegro MicroSystems news, CFO Derek D’antilio purchased 1,488 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The shares were purchased at an average cost of $33.63 per share, with a total value of $50,041.44. Following the completion of the transaction, the chief financial officer now owns 142,899 shares of the company’s stock, valued at $4,805,693.37. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph R. Martin sold 17,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $38.73, for a total value of $658,410.00. Following the transaction, the director now directly owns 22,374 shares in the company, valued at $866,545.02. The disclosure for this sale can be found here. 9.70% of the stock is owned by insiders.
Analyst Ratings Changes
Several brokerages have recently commented on ALGM. Mizuho increased their price target on shares of Allegro MicroSystems from $50.00 to $56.00 in a research report on Thursday, July 20th. Wolfe Research assumed coverage on shares of Allegro MicroSystems in a report on Wednesday, July 19th. They issued a “market perform” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Allegro MicroSystems in a report on Wednesday, August 9th. Wells Fargo & Company boosted their price objective on Allegro MicroSystems from $52.00 to $60.00 in a research report on Wednesday, July 26th. Finally, Barclays boosted their price objective on Allegro MicroSystems from $50.00 to $60.00 in a research report on Thursday, July 20th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.33.
View Our Latest Report on ALGM
About Allegro MicroSystems
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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