Natixis Advisors LLC Has $700,000 Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Natixis Advisors LLC increased its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 5.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 30,062 shares of the company’s stock after purchasing an additional 1,625 shares during the quarter. Natixis Advisors LLC’s holdings in Allegro MicroSystems were worth $700,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALGM. Vanguard Group Inc. raised its position in shares of Allegro MicroSystems by 13.5% during the 1st quarter. Vanguard Group Inc. now owns 8,400,064 shares of the company’s stock valued at $226,466,000 after acquiring an additional 999,939 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 valued at $993,000 after buying an additional 2,353 shares during the period. Janus Henderson Group PLC boosted its holdings in Allegro MicroSystems by 82.9% during the first quarter. Janus Henderson Group PLC now owns 414,427 shares of the company’s stock worth $11,173,000 after buying an additional 187,808 shares during the last quarter. GAMMA Investing LLC grew its holdings in 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 purchasing an additional 603 shares during the period. Finally, Versant Capital Management Inc boosted its position in shares of Allegro MicroSystems by 1,957.1% during the second quarter. Versant Capital Management Inc now owns 1,152 shares of the company’s stock worth $33,000 after purchasing an additional 1,096 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Michael Doogue acquired 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $19.00 per share, for a total transaction of $285,000.00. Following the completion of the acquisition, the senior vice president now directly owns 246,086 shares of the company’s stock, valued at approximately $4,675,634. This trade represents a 6.49 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALGM shares. Morgan Stanley assumed coverage on Allegro MicroSystems in a report on Thursday, November 7th. They set an “equal weight” rating and a $21.00 target price on the stock. Needham & Company LLC reduced their price target on shares of Allegro MicroSystems from $33.00 to $30.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Wells Fargo & Company initiated coverage on Allegro MicroSystems in a report on Friday, November 22nd. They issued an “overweight” rating and a $23.00 price target on the stock. Mizuho set a $26.00 price objective on Allegro MicroSystems in a report on Friday, October 18th. Finally, Barclays cut their target price on 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 research analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Allegro MicroSystems currently has a consensus rating of “Moderate Buy” and a consensus price target of $30.09.

Allegro MicroSystems Price Performance

ALGM stock opened at $21.48 on Thursday. The company’s 50-day moving average price is $21.42 and its two-hundred day moving average price is $24.95. Allegro MicroSystems, Inc. has a 12 month low of $18.59 and a 12 month high of $33.26. The company has a quick ratio of 2.80, a current ratio of 4.22 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.95 billion, a P/E ratio of -153.42 and a beta of 1.69.

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

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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.