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

Aurora Investment Counsel raised its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 60,806 shares of the company’s stock after acquiring an additional 4,801 shares during the period. Aurora Investment Counsel’s holdings in Allegro MicroSystems were worth $1,417,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Allegro MicroSystems by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 8,400,064 shares of the company’s stock valued at $226,466,000 after purchasing an additional 999,939 shares during the last quarter. Bamco Inc. NY increased its position in shares of Allegro MicroSystems by 477.6% during the 1st quarter. Bamco Inc. NY now owns 668,811 shares of the company’s stock valued at $18,031,000 after purchasing an additional 553,016 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Allegro MicroSystems by 363.0% during the 1st 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 purchased a new stake in shares of Allegro MicroSystems during the 2nd quarter valued at $13,120,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Allegro MicroSystems by 45.0% during the 2nd 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. 56.45% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ALGM has been the subject of several research analyst reports. Barclays decreased their target price on Allegro MicroSystems from $32.00 to $25.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. UBS Group began coverage on Allegro MicroSystems in a report on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 price objective for the company. Needham & Company LLC decreased their price objective on Allegro MicroSystems from $33.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Mizuho set a $26.00 price objective on Allegro MicroSystems in a report on Friday, October 18th. Finally, Loop Capital began coverage on Allegro MicroSystems in a report on Tuesday, November 12th. They issued a “buy” rating and a $30.00 price objective for the company. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $30.80.

Allegro MicroSystems Stock Up 3.3 %

ALGM stock opened at $20.14 on Thursday. The company has a quick ratio of 2.80, a current ratio of 4.22 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $3.71 billion, a PE ratio of -143.86 and a beta of 1.69. Allegro MicroSystems, Inc. has a twelve month low of $18.59 and a twelve month high of $33.26. The stock has a 50-day simple moving average of $21.52 and a two-hundred 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $187.39 million during the quarter, compared to analyst estimates of $187.52 million. Allegro MicroSystems had a positive return on equity of 8.48% and a negative net margin of 2.96%. The company’s quarterly revenue was down 32.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.36 EPS.

Insider Activity

In other Allegro MicroSystems news, SVP Michael Doogue purchased 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was purchased at an average price of $19.00 per share, for a total transaction of $285,000.00. Following the transaction, the senior vice president now owns 246,086 shares in the company, valued at $4,675,634. The trade was a 6.49 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.50% of the company’s stock.

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.