2 weeks Ago By ABMN Staff
Loop Capital started coverage on shares of Allegro MicroSystems ( NASDAQ:ALGM – Free Report ) in a research report sent to investors on Tuesday, MarketBeat reports. The firm issued a buy rating and a $30.00 price target on the stock.
Several other research firms have also commented on ALGM. UBS Group began coverage on shares of Allegro MicroSystems in a research note on Tuesday, September 3rd. They set a “buy” rating and a $33.
00 price objective on the stock. Mizuho set a $26.00 price objective on shares of Allegro MicroSystems in a research note on Friday, October 18th.
Needham & Company LLC dropped 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 note on Thursday, October 31st.
Morgan Stanley began coverage on shares of Allegro MicroSystems in a research note on Thursday, November 7th. They set an “equal weight” rating and a $21.00 price objective on the stock.
Finally, 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 research note on Friday, November 1st.
One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.80.
Get Our Latest Stock Report on Allegro MicroSystems Allegro MicroSystems Price Performance Allegro MicroSystems ( NASDAQ:ALGM – Get Free Report ) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.
06 by $0.02. The firm had revenue of $187.
39 million for the quarter, compared to analysts’ expectations of $187.52 million. Allegro MicroSystems had a negative net margin of 2.
96% and a positive return on equity of 8.48%. The company’s revenue for the quarter was down 32.
0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 earnings per share.
Institutional Trading of Allegro MicroSystems A number of institutional investors have recently modified their holdings of the company. Circle Wealth Management LLC boosted its holdings in shares of Allegro MicroSystems by 204.1% in the 3rd quarter.
Circle Wealth Management LLC now owns 22,561 shares of the company’s stock valued at $525,000 after buying an additional 15,142 shares in the last quarter. Verition Fund Management LLC boosted its stake in Allegro MicroSystems by 34.6% in the 3rd quarter.
Verition Fund Management LLC now owns 55,532 shares of the company’s stock worth $1,294,000 after purchasing an additional 14,284 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Allegro MicroSystems by 7.8% in the 3rd quarter.
UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 194,322 shares of the company’s stock worth $4,528,000 after purchasing an additional 14,094 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Allegro MicroSystems by 58.6% in the 3rd quarter.
Zurcher Kantonalbank Zurich Cantonalbank now owns 31,292 shares of the company’s stock worth $729,000 after purchasing an additional 11,556 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Allegro MicroSystems by 111.6% in the 3rd quarter.
MetLife Investment Management LLC now owns 79,763 shares of the company’s stock worth $1,858,000 after purchasing an additional 42,068 shares in the last quarter. 56.45% of the stock is currently owned by 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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers. Recommended 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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