2 weeks Ago By ABMN Staff
Allegro MicroSystems, Inc. ( NASDAQ:ALGM – Get Free Report ) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totalling 10,280,000 shares, an increase of 11.
7% from the August 31st total of 9,200,000 shares. Based on an average trading volume of 2,550,000 shares, the days-to-cover ratio is currently 4.0 days.
Currently, 8.2% of the shares of the stock are sold short. Allegro MicroSystems Stock Up 1.
4 % Shares of NASDAQ ALGM opened at $24.31 on Monday. The company has a market cap of $4.
71 billion, a price-to-earnings ratio of 31.17 and a beta of 1.68.
The company has a quick ratio of 2.98, a current ratio of 4.65 and a debt-to-equity ratio of 0.
18. The firm’s fifty day moving average is $23.55 and its 200 day moving average is $26.
90. Allegro MicroSystems has a 52 week low of $20.42 and a 52 week high of $33.
26. Allegro MicroSystems ( NASDAQ:ALGM – Get Free Report ) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.
03 EPS for the quarter, beating 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 firm had revenue of $166.90 million during the quarter, compared to the consensus estimate of $165.04 million.
During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was down 40.
0% compared to the same quarter last year. On average, equities research analysts expect that Allegro MicroSystems will post 0.16 earnings per share for the current year.
Analysts Set New Price Targets Get Our Latest Stock Analysis on ALGM Insider Activity 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 transaction of $232,001,015.40.
Following the completion of the sale, the insider now directly owns 59,732,782 shares in the company, valued at $1,383,411,231.12. The sale was disclosed in a document filed with the SEC, which is available at the SEC website .
Corporate insiders own 0.50% of the company’s stock. Hedge Funds Weigh In On Allegro MicroSystems Several hedge funds have recently made changes to their positions in ALGM.
Versant Capital Management Inc boosted its holdings 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 acquiring an additional 1,096 shares in the last quarter.
Pineridge Advisors LLC bought a new stake in shares of Allegro MicroSystems during the 4th quarter valued at about $49,000. GAMMA Investing LLC increased its position in shares of Allegro MicroSystems by 52.2% during 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 during the period. TFO Wealth Partners LLC raised its stake in Allegro MicroSystems by 26,361.5% in the fourth quarter.
TFO Wealth Partners LLC now owns 3,440 shares of the company’s stock worth $104,000 after buying an additional 3,427 shares in the last quarter. Finally, CWM LLC lifted its holdings in Allegro MicroSystems by 27.7% in the second quarter.
CWM LLC now owns 4,241 shares of the company’s stock worth $120,000 after buying an additional 921 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.
About Allegro MicroSystems ( Get Free Report ) 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. Featured Stories Receive News & Ratings for Allegro MicroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegro MicroSystems and related companies with MarketBeat.
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