Circle Wealth Management LLC Buys 15,142 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Circle Wealth Management LLC boosted its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 204.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 22,561 shares of the company’s stock after acquiring an additional 15,142 shares during the quarter. Circle Wealth Management LLC’s holdings in Allegro MicroSystems were worth $525,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Allegro MicroSystems by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 36,818 shares of the company’s stock worth $993,000 after purchasing an additional 2,353 shares during the period. GAMMA Investing LLC boosted its position 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 acquiring an additional 603 shares during the period. Versant Capital Management Inc grew its stake in shares of Allegro MicroSystems by 1,957.1% in the second quarter. Versant Capital Management Inc now owns 1,152 shares of the company’s stock worth $33,000 after acquiring an additional 1,096 shares during the last quarter. CWM LLC increased its position in Allegro MicroSystems by 27.7% during the second quarter. CWM LLC now owns 4,241 shares of the company’s stock worth $120,000 after acquiring an additional 921 shares during the period. Finally, SG Americas Securities LLC raised its stake in Allegro MicroSystems by 148.3% during the 2nd quarter. SG Americas Securities LLC now owns 27,401 shares of the company’s stock valued at $774,000 after purchasing an additional 16,367 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

Insider Transactions at Allegro MicroSystems

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on ALGM shares. Barclays dropped their price objective on shares of Allegro MicroSystems from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. Morgan Stanley started coverage on Allegro MicroSystems in a report on Thursday, November 7th. They issued an “equal weight” rating and a $21.00 price target for the company. UBS Group began coverage on Allegro MicroSystems in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 price objective for the company. Needham & Company LLC lowered their price objective on Allegro MicroSystems from $33.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Loop Capital initiated coverage on Allegro MicroSystems in a research report on Tuesday, November 12th. They issued a “buy” rating and a $30.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.09.

Allegro MicroSystems Stock Performance

Allegro MicroSystems stock opened at $21.73 on Friday. The firm has a market capitalization of $4.00 billion, a P/E ratio of -155.20 and a beta of 1.69. The stock has a fifty day moving average price of $21.36 and a two-hundred day moving average price of $24.86. Allegro MicroSystems, Inc. has a 52-week low of $18.59 and a 52-week high of $33.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.22 and a quick ratio of 2.80.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. Allegro MicroSystems had a negative net margin of 2.96% and a positive return on equity of 8.48%. The business had revenue of $187.39 million during the quarter, compared to analysts’ expectations of $187.52 million. The firm’s revenue for the quarter was down 32.0% on a year-over-year basis. During the same quarter last year, the company posted $0.36 EPS.

Allegro MicroSystems Company 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.