Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 178,522 shares of the company’s stock after purchasing an additional 14,940 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned 0.09% of Allegro MicroSystems worth $5,404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Allegro MicroSystems by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 7,400,125 shares of the company’s stock worth $224,002,000 after purchasing an additional 38,187 shares during the last quarter. Pineridge Advisors LLC acquired a new position in shares of Allegro MicroSystems during the 4th quarter worth about $49,000. Aurora Investment Counsel acquired a new position in shares of Allegro MicroSystems during the 4th quarter worth about $1,730,000. Analog Century Management LP raised its position in shares of Allegro MicroSystems by 74.7% during the 4th quarter. Analog Century Management LP now owns 408,127 shares of the company’s stock worth $12,354,000 after purchasing an additional 174,459 shares during the last quarter. Finally, S Squared Technology LLC raised its position in shares of Allegro MicroSystems by 8.9% during the 4th quarter. S Squared Technology LLC now owns 307,451 shares of the company’s stock worth $9,307,000 after purchasing an additional 25,000 shares during the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Allegro MicroSystems Stock Up 0.7 %

Shares of NASDAQ ALGM opened at $28.21 on Tuesday. The company has a 50 day simple moving average of $28.86 and a 200-day simple moving average of $28.82. The company has a market capitalization of $5.47 billion, a P/E ratio of 36.17 and a beta of 1.70. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.85 and a quick ratio of 3.48. Allegro MicroSystems, Inc. has a 1 year low of $23.64 and a 1 year high of $53.05.

Allegro MicroSystems (NASDAQ:ALGM) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.02. The business had revenue of $240.58 million during the quarter, compared to the consensus estimate of $235.00 million. Allegro MicroSystems had a net margin of 14.55% and a return on equity of 20.67%. On average, equities research analysts predict that Allegro MicroSystems, Inc. will post 0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays reduced their price target on shares of Allegro MicroSystems from $35.00 to $32.00 and set an “overweight” rating for the company in a research report on Friday, May 10th. Evercore ISI initiated coverage on shares of Allegro MicroSystems in a report on Tuesday, April 16th. They issued an “outperform” rating and a $36.00 price objective for the company. TD Cowen increased their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company a “buy” rating in a report on Thursday, June 13th. Needham & Company LLC cut their price objective on shares of Allegro MicroSystems from $40.00 to $33.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Mizuho cut their price objective on shares of Allegro MicroSystems from $45.00 to $35.00 and set a “buy” rating for the company in a report on Friday, May 10th. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Insider Transactions at Allegro MicroSystems

In other news, Director Richard R. Lury sold 8,500 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $30.00, for a total transaction of $255,000.00. Following the completion of the sale, the director now owns 23,001 shares in the company, valued at approximately $690,030. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 9.70% of the company’s stock.

Allegro MicroSystems 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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.