Quantinno Capital Management LP Has $394,000 Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Quantinno Capital Management LP increased its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 15.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,011 shares of the company’s stock after purchasing an additional 2,436 shares during the period. Quantinno Capital Management LP’s holdings in Allegro MicroSystems were worth $394,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Waterhouse Canada Inc. acquired a new stake in Allegro MicroSystems during the fourth quarter worth about $40,000. Venturi Wealth Management LLC bought a new stake in shares of Allegro MicroSystems during the 4th quarter worth approximately $47,000. Quarry LP acquired a new stake in shares of Allegro MicroSystems during the 4th quarter worth approximately $79,000. Sterling Capital Management LLC increased its stake in Allegro MicroSystems by 59.9% in the fourth quarter. Sterling Capital Management LLC now owns 7,364 shares of the company’s stock valued at $161,000 after acquiring an additional 2,758 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Allegro MicroSystems during the fourth quarter valued at approximately $186,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ALGM. Barclays raised their target price on Allegro MicroSystems from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Morgan Stanley lifted their target price on Allegro MicroSystems from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Needham & Company LLC lowered their target price on Allegro MicroSystems from $30.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Mizuho raised their price target on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, March 24th. Finally, UBS Group lifted their price target on shares of Allegro MicroSystems from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, May 9th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.38.

Allegro MicroSystems Stock Down 1.9%

Shares of ALGM opened at $25.42 on Monday. Allegro MicroSystems, Inc. has a 52 week low of $16.38 and a 52 week high of $33.26. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of -72.63 and a beta of 1.57. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.00 and a current ratio of 4.91. The stock has a fifty day moving average of $22.59 and a 200-day moving average of $23.05.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.01. Allegro MicroSystems had a positive return on equity of 4.31% and a negative net margin of 8.45%. The company had revenue of $192.82 million during the quarter, compared to analysts’ expectations of $185.35 million. During the same period in the prior year, the company earned $0.25 EPS. Allegro MicroSystems’s revenue was down 19.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current fiscal year.

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.