Loomis Sayles & Co. L P Buys Shares of 784,111 Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Loomis Sayles & Co. L P acquired a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 784,111 shares of the company's stock, valued at approximately $18,269,000. Loomis Sayles & Co. L P owned approximately 0.43% of Allegro MicroSystems as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in ALGM. Versant Capital Management Inc increased its stake in Allegro MicroSystems by 1,957.1% in the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the company's stock valued at $33,000 after buying an additional 1,096 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Allegro MicroSystems by 52.2% in the second quarter. GAMMA Investing LLC now owns 1,759 shares of the company's stock valued at $50,000 after buying an additional 603 shares in the last quarter. KBC Group NV lifted its stake in Allegro MicroSystems by 40.9% in the third quarter. KBC Group NV now owns 3,590 shares of the company's stock valued at $84,000 after acquiring an additional 1,042 shares during the last quarter. CWM LLC raised its holdings in shares of Allegro MicroSystems by 27.7% in the 2nd quarter. CWM LLC now owns 4,241 shares of the company's stock valued at $120,000 after purchasing an additional 921 shares during the period. Finally, Van ECK Associates Corp acquired a new stake in Allegro MicroSystems in the 3rd quarter valued at about $172,000. Institutional investors and hedge funds own 56.45% of the company's stock.

Allegro MicroSystems Trading Down 3.4 %

ALGM stock opened at $21.57 on Wednesday. Allegro MicroSystems, Inc. has a 52 week low of $18.59 and a 52 week high of $33.26. The business has a 50-day simple moving average of $21.46 and a 200 day simple moving average of $24.97. The company has a quick ratio of 2.80, a current ratio of 4.22 and a debt-to-equity ratio of 0.42.

Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last issued its 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 during the quarter, compared to analysts' expectations of $187.52 million. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.48%. The business's revenue for the quarter was down 32.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.36 EPS.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ALGM shares. Barclays dropped their price target on Allegro MicroSystems from $32.00 to $25.00 and set an "overweight" rating on the stock in a research note on Friday, November 1st. Needham & Company LLC lowered their price target on shares of Allegro MicroSystems from $33.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday, October 31st. UBS Group initiated coverage on Allegro MicroSystems in a research report on Tuesday, September 3rd. They issued a "buy" rating and a $33.00 target price on the stock. Morgan Stanley started coverage on Allegro MicroSystems in a report on Thursday, November 7th. They set an "equal weight" rating and a $21.00 price target for the company. Finally, Mizuho set a $26.00 price objective on Allegro MicroSystems in a report on Friday, October 18th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $30.09.

Insiders Place Their Bets

In other Allegro MicroSystems news, SVP Michael Doogue purchased 15,000 shares of the firm's stock in a transaction dated 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 purchase, the senior vice president now owns 246,086 shares in the company, valued at approximately $4,675,634. This trade represents a 6.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.50% 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.