Bamco Inc. NY Has $18.03 Million Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Bamco Inc. NY grew its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 477.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 668,811 shares of the company’s stock after purchasing an additional 553,016 shares during the quarter. Bamco Inc. NY’s holdings in Allegro MicroSystems were worth $18,031,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in Allegro MicroSystems in the fourth quarter worth $28,000. Pineridge Advisors LLC acquired a new stake in Allegro MicroSystems in the 4th quarter valued at $49,000. Quadrant Capital Group LLC lifted its stake in Allegro MicroSystems by 25.1% in the fourth quarter. Quadrant Capital Group LLC now owns 2,115 shares of the company’s stock valued at $64,000 after acquiring an additional 425 shares during the last quarter. Psagot Value Holdings Ltd. Israel lifted its stake in Allegro MicroSystems by 28.5% in the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 2,262 shares of the company’s stock valued at $70,000 after purchasing an additional 502 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in Allegro MicroSystems by 14.7% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,051 shares of the company’s stock valued at $94,000 after purchasing an additional 390 shares during the period. 56.45% of the stock is currently owned by institutional investors.

Insider Transactions at Allegro MicroSystems

In other news, Director Richard R. Lury sold 8,500 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $30.00, for a total transaction of $255,000.00. Following the completion of the transaction, the director now directly owns 23,001 shares in the company, valued at $690,030. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.

Allegro MicroSystems Stock Down 0.7 %

Shares of NASDAQ:ALGM traded down $0.16 on Friday, hitting $24.15. 8,853,642 shares of the company’s stock were exchanged, compared to its average volume of 2,167,157. Allegro MicroSystems, Inc. has a 1-year low of $23.64 and a 1-year high of $52.26. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.48 and a current ratio of 4.85. The company has a market capitalization of $4.68 billion, a PE ratio of 30.96 and a beta of 1.67. The firm’s 50-day moving average is $29.33 and its 200 day moving average is $28.86.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. Allegro MicroSystems had a return on equity of 20.67% and a net margin of 14.55%. The business had revenue of $240.58 million for the quarter, compared to analysts’ expectations of $235.00 million. Sell-side analysts predict that Allegro MicroSystems, Inc. will post 0.23 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Barclays cut their price target on Allegro MicroSystems from $35.00 to $32.00 and set an “overweight” rating on the stock in a research note on Friday, May 10th. Mizuho decreased their target price on Allegro MicroSystems from $45.00 to $35.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Needham & Company LLC cut their price target on shares of Allegro MicroSystems from $40.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, May 10th. TD Cowen boosted their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Thursday, June 13th. Finally, Evercore ISI initiated coverage on Allegro MicroSystems in a report on Tuesday, April 16th. They set an “outperform” rating and a $36.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $34.63.

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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.