Allegro MicroSystems (NASDAQ:ALGM) Hits New 12-Month Low - Time to Sell?

Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report) shares reached a new 52-week low during trading on Friday . The company traded as low as $19.27 and last traded at $19.56, with a volume of 103873 shares trading hands. The stock had previously closed at $19.83.

Analyst Upgrades and Downgrades

Several research analysts have commented on ALGM shares. UBS Group assumed coverage on shares of Allegro MicroSystems in a research note on Tuesday, September 3rd. They set a "buy" rating and a $33.00 price target on the stock. Barclays lowered their price target on shares of Allegro MicroSystems from $32.00 to $25.00 and set an "overweight" rating for the company in a research note on Friday, November 1st. Morgan Stanley started coverage on Allegro MicroSystems in a research note on Thursday, November 7th. They set an "equal weight" rating and a $21.00 price objective on the stock. Mizuho set a $26.00 target price on Allegro MicroSystems in a research note on Friday, October 18th. Finally, Loop Capital assumed coverage on Allegro MicroSystems in a research report on Tuesday. They set a "buy" rating and a $30.00 price target on the stock. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.80.

Allegro MicroSystems Trading Down 3.8 %

The firm has a market cap of $3.51 billion, a PE ratio of -134.00 and a beta of 1.69. The firm has a fifty day simple moving average of $21.70 and a two-hundred day simple moving average of $25.52. The company has a current ratio of 4.22, a quick ratio of 2.80 and a debt-to-equity ratio of 0.42.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last announced its quarterly 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. Allegro MicroSystems had a positive return on equity of 8.48% and a negative net margin of 2.96%. The company had revenue of $187.39 million during the quarter, compared to analyst estimates of $187.52 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm's revenue was down 32.0% on a year-over-year basis.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ALGM. GAMMA Investing LLC grew its position in shares of Allegro MicroSystems by 52.2% during the second quarter. GAMMA Investing LLC now owns 1,759 shares of the company's stock worth $50,000 after purchasing an additional 603 shares in the last quarter. Prosperity Financial Group Inc. boosted its stake in Allegro MicroSystems by 7.9% in the 3rd quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company's stock worth $248,000 after purchasing an additional 784 shares during the period. CWM LLC grew its holdings in Allegro MicroSystems by 27.7% during the 2nd quarter. CWM LLC now owns 4,241 shares of the company's stock valued at $120,000 after buying an additional 921 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Allegro MicroSystems by 1.7% during the first quarter. Texas Permanent School Fund Corp now owns 62,538 shares of the company's stock valued at $1,686,000 after buying an additional 1,019 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Allegro MicroSystems by 40.9% in the third quarter. KBC Group NV now owns 3,590 shares of the company's stock worth $84,000 after buying an additional 1,042 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

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.