Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Michael Doogue Purchases 15,000 Shares

Allegro MicroSystems, Inc. (NASDAQ:ALGM) SVP Michael Doogue bought 15,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were acquired at an average price of $19.00 per share, for a total transaction of $285,000.00. Following the acquisition, the senior vice president now directly owns 246,086 shares of the company’s stock, valued at approximately $4,675,634. The trade was a 6.49 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available through the SEC website.

Allegro MicroSystems Trading Up 1.3 %

NASDAQ ALGM opened at $19.49 on Wednesday. The firm has a market cap of $3.59 billion, a P/E ratio of -139.21 and a beta of 1.69. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.22 and a quick ratio of 2.80. The stock’s 50-day moving average is $21.55 and its 200-day moving average is $25.24. Allegro MicroSystems, Inc. has a one year low of $18.59 and a one year high of $33.26.

Allegro MicroSystems (NASDAQ:ALGM) last released 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 for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share.

Institutional Investors Weigh In On Allegro MicroSystems

Several hedge funds have recently bought and sold shares of the company. 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 valued at $50,000 after buying an additional 603 shares during the period. Prosperity Financial Group Inc. lifted its holdings in Allegro MicroSystems by 7.9% during the 3rd quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company’s stock valued at $248,000 after purchasing an additional 784 shares during the last quarter. CWM LLC lifted its holdings in Allegro MicroSystems by 27.7% during the 2nd quarter. CWM LLC now owns 4,241 shares of the company’s stock valued at $120,000 after purchasing an additional 921 shares during the last quarter. KBC Group NV lifted its holdings in Allegro MicroSystems by 40.9% during the 3rd quarter. KBC Group NV now owns 3,590 shares of the company’s stock valued at $84,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in Allegro MicroSystems by 1,957.1% during the 2nd quarter. Versant Capital Management Inc now owns 1,152 shares of the company’s stock valued at $33,000 after purchasing an additional 1,096 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALGM has been the topic of several research analyst reports. Barclays decreased their target price on Allegro MicroSystems from $32.00 to $25.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. UBS Group started coverage on Allegro MicroSystems in a report on Tuesday, September 3rd. They set a “buy” rating and a $33.00 target price on the stock. Needham & Company LLC decreased their price target on Allegro MicroSystems from $33.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. 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 on the stock. Finally, Mizuho set a $26.00 price target on Allegro MicroSystems in a report on Friday, October 18th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $30.80.

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.