Allegro MicroSystems, Inc. (NASDAQ:ALGM - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $19.80 and last traded at $19.84, with a volume of 1212470 shares. The stock had previously closed at $20.71.
Analysts Set New Price Targets
Several equities research analysts have recently commented on ALGM shares. Mizuho set a $26.00 price target on shares of Allegro MicroSystems in a research report on Friday. UBS Group started coverage on shares of Allegro MicroSystems in a research report on Tuesday, September 3rd. They set a "buy" rating and a $33.00 price target for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $33.00 price target on shares of Allegro MicroSystems in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat, Allegro MicroSystems presently has a consensus rating of "Buy" and a consensus target price of $33.38.
Get Our Latest Research Report on Allegro MicroSystems
Allegro MicroSystems Stock Down 3.6 %
The firm's 50 day moving average is $22.74 and its two-hundred day moving average is $26.24. The firm has a market cap of $3.87 billion, a P/E ratio of 25.60 and a beta of 1.67. The company has a current ratio of 4.65, a quick ratio of 2.98 and a debt-to-equity ratio of 0.18.
Allegro MicroSystems (NASDAQ:ALGM - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01. Allegro MicroSystems had a net margin of 7.91% and a return on equity of 13.88%. The business had revenue of $166.90 million for the quarter, compared to analyst estimates of $165.04 million. During the same quarter last year, the firm earned $0.34 EPS. Allegro MicroSystems's quarterly revenue was down 40.0% compared to the same quarter last year. As a group, research analysts anticipate that Allegro MicroSystems, Inc. will post 0.16 EPS for the current fiscal year.
Insider Buying and Selling
In other Allegro MicroSystems news, major shareholder Electric Co. Ltd. Sanken sold 10,017,315 shares of Allegro MicroSystems stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $23.16, for a total value of $232,001,015.40. Following the transaction, the insider now owns 59,732,782 shares of the company's stock, valued at approximately $1,383,411,231.12. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in Allegro MicroSystems by 1,957.1% in the second 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 in the last quarter. GAMMA Investing LLC lifted its stake in 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. CWM LLC lifted its stake in Allegro MicroSystems by 27.7% in the second 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. Oppenheimer Asset Management Inc. bought a new position in Allegro MicroSystems in the second quarter valued at approximately $211,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Allegro MicroSystems by 84.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,530 shares of the company's stock valued at $228,000 after purchasing an additional 3,442 shares during the last quarter. Institutional investors own 56.45% of the company's stock.
About Allegro MicroSystems
(
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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.
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