Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Sold by Quantinno Capital Management LP

Quantinno Capital Management LP decreased its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 62.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,575 shares of the company's stock after selling 26,344 shares during the period. Quantinno Capital Management LP's holdings in Allegro MicroSystems were worth $363,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ALGM. Readystate Asset Management LP purchased a new stake in shares of Allegro MicroSystems during the third quarter worth $367,000. Polar Asset Management Partners Inc. bought a new position in Allegro MicroSystems in the third quarter valued at $5,998,000. Needham Investment Management LLC grew its stake in shares of Allegro MicroSystems by 42.2% during the third quarter. Needham Investment Management LLC now owns 72,500 shares of the company's stock valued at $1,689,000 after buying an additional 21,500 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Allegro MicroSystems by 42.1% during the third quarter. Janus Henderson Group PLC now owns 51,229 shares of the company's stock valued at $1,193,000 after buying an additional 15,172 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Allegro MicroSystems by 152.3% during the third quarter. Holocene Advisors LP now owns 196,831 shares of the company's stock valued at $4,586,000 after buying an additional 118,816 shares during the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

Allegro MicroSystems Price Performance

ALGM stock traded up $0.38 during mid-day trading on Monday, hitting $22.38. The company had a trading volume of 1,985,881 shares, compared to its average volume of 1,936,548. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of -157.14 and a beta of 1.67. Allegro MicroSystems, Inc. has a 12-month low of $18.59 and a 12-month high of $33.26. 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 company has a 50-day moving average price of $21.16 and a 200 day moving average price of $24.23.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The company had revenue of $187.39 million for the quarter, compared to the consensus estimate of $187.52 million. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.48%. The firm's revenue was down 32.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.36 EPS.

Analyst Ratings Changes

ALGM has been the subject of a number of analyst reports. Mizuho set a $26.00 target price on shares of Allegro MicroSystems in a report on Friday, October 18th. Morgan Stanley began coverage on shares of Allegro MicroSystems in a report on Thursday, November 7th. They issued an "equal weight" rating and a $21.00 price objective for the company. Barclays lowered their price objective on shares of Allegro MicroSystems from $32.00 to $25.00 and set an "overweight" rating for the company in a report on Friday, November 1st. Loop Capital began coverage on shares of Allegro MicroSystems in a report on Tuesday, November 12th. They issued a "buy" rating and a $30.00 price objective for the company. Finally, Needham & Company LLC lowered their price objective on shares of Allegro MicroSystems from $33.00 to $30.00 and set a "buy" rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Allegro MicroSystems currently has an average rating of "Moderate Buy" and an average price target of $30.09.

Insider Activity at Allegro MicroSystems

In other news, SVP Michael Doogue purchased 15,000 shares of the company's stock in a transaction that occurred on Monday, November 18th. The shares were bought at an average price of $19.00 per share, for a total transaction of $285,000.00. Following the completion of the transaction, the senior vice president now owns 246,086 shares in the company, valued at $4,675,634. This represents a 6.49 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 0.50% of the stock is currently owned by corporate insiders.

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.