Cwm LLC Lowers Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Cwm LLC decreased its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 13.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,684 shares of the company’s stock after selling 557 shares during the period. Cwm LLC’s holdings in Allegro MicroSystems were worth $86,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of ALGM. State of Michigan Retirement System raised its stake in Allegro MicroSystems by 2.3% in the first quarter. State of Michigan Retirement System now owns 17,500 shares of the company’s stock worth $472,000 after buying an additional 400 shares in the last quarter. Retirement Systems of Alabama raised its stake in Allegro MicroSystems by 0.4% in the first quarter. Retirement Systems of Alabama now owns 130,731 shares of the company’s stock worth $3,525,000 after buying an additional 537 shares in the last quarter. GAMMA Investing LLC raised its stake in Allegro MicroSystems by 52.2% in the second quarter. GAMMA Investing LLC now owns 1,759 shares of the company’s stock worth $50,000 after buying an additional 603 shares in the last quarter. Texas Permanent School Fund Corp raised its stake in Allegro MicroSystems by 1.7% in the first quarter. Texas Permanent School Fund Corp now owns 62,538 shares of the company’s stock worth $1,686,000 after buying an additional 1,019 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake 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 worth $33,000 after buying an additional 1,096 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $23.04 on Friday. The business’s fifty day simple moving average is $22.51 and its 200-day simple moving average is $26.09. The company has a market cap of $4.46 billion, a PE ratio of 29.54 and a beta of 1.67. The company has a current ratio of 4.65, a quick ratio of 2.98 and a debt-to-equity ratio of 0.18. Allegro MicroSystems, Inc. has a 12-month low of $19.71 and a 12-month high of $33.26.

Allegro MicroSystems (NASDAQ:ALGM) last released its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.01. Allegro MicroSystems had a return on equity of 13.88% and a net margin of 7.91%. The firm had revenue of $166.90 million for the quarter, compared to the consensus estimate of $165.04 million. During the same period in the prior year, the firm earned $0.34 EPS. The firm’s revenue was down 40.0% on a year-over-year basis. Analysts expect that Allegro MicroSystems, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Allegro MicroSystems

In related news, major shareholder Electric Co. Ltd. Sanken sold 10,017,315 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $23.16, for a total value of $232,001,015.40. Following the transaction, the insider now directly owns 59,732,782 shares of the company’s stock, valued at $1,383,411,231.12. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. UBS Group assumed coverage on shares of Allegro MicroSystems in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $33.00 price target on shares of Allegro MicroSystems in a research report on Friday, August 2nd. Finally, Mizuho set a $26.00 price target on Allegro MicroSystems in a research report on Friday, October 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $33.38.

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.