Two Sigma Advisers LP Has $14.61 Million Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Two Sigma Advisers LP grew its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 21.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 627,000 shares of the company's stock after acquiring an additional 112,400 shares during the quarter. Two Sigma Advisers LP owned 0.34% of Allegro MicroSystems worth $14,609,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC grew its position in shares of Allegro MicroSystems by 43.3% in the 3rd quarter. FMR LLC now owns 28,253,811 shares of the company's stock valued at $658,314,000 after purchasing an additional 8,534,089 shares during the period. State Street Corp boosted its holdings in shares of Allegro MicroSystems by 41.7% in the third quarter. State Street Corp now owns 5,486,289 shares of the company's stock valued at $127,831,000 after buying an additional 1,615,351 shares during the period. Loomis Sayles & Co. L P acquired a new position in shares of Allegro MicroSystems in the third quarter valued at approximately $18,269,000. Westfield Capital Management Co. LP increased its position in shares of Allegro MicroSystems by 54.6% during the third quarter. Westfield Capital Management Co. LP now owns 2,014,481 shares of the company's stock worth $46,937,000 after acquiring an additional 711,185 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Allegro MicroSystems by 101.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,366,308 shares of the company's stock worth $31,835,000 after acquiring an additional 688,539 shares during the period. 56.45% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Allegro MicroSystems

In other news, SVP Michael Doogue purchased 15,000 shares of Allegro MicroSystems stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $19.00 per share, for a total transaction of $285,000.00. Following the purchase, the senior vice president now directly owns 246,086 shares of the company's stock, valued at $4,675,634. This trade represents a 6.49 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.50% of the company's stock.

Allegro MicroSystems Stock Performance

NASDAQ ALGM traded up $0.15 during trading on Monday, reaching $21.36. 1,502,567 shares of the company's stock were exchanged, compared to its average volume of 1,940,148. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.22 and a quick ratio of 2.80. The business has a 50 day moving average price of $21.19 and a 200-day moving average price of $24.54. The stock has a market capitalization of $3.93 billion, a P/E ratio of -151.49 and a beta of 1.67. Allegro MicroSystems, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $33.26.

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, topping the consensus estimate 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 the consensus estimate of $187.52 million. During the same period in the previous year, the company posted $0.36 EPS. The firm's revenue for the quarter was down 32.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Loop Capital began coverage on Allegro MicroSystems in a report on Tuesday, November 12th. They set a "buy" rating and a $30.00 target price for the company. Wells Fargo & Company assumed coverage on Allegro MicroSystems in a report on Friday, November 22nd. They set an "overweight" rating and a $23.00 price objective for the company. Mizuho set a $26.00 target price on Allegro MicroSystems in a research note on Friday, October 18th. Barclays decreased 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. Finally, Needham & Company LLC cut their price objective on shares of Allegro MicroSystems from $33.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Allegro MicroSystems presently has an average rating of "Moderate Buy" and an average price target of $30.09.

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.