Natixis Advisors LLC Has $803,000 Stock Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Natixis Advisors LLC increased its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 46.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,437 shares of the company’s stock after purchasing an additional 9,059 shares during the quarter. Natixis Advisors LLC’s holdings in Allegro MicroSystems were worth $803,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ALGM. Vanguard Group Inc. boosted its holdings 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 worth $226,466,000 after buying an additional 999,939 shares during the period. Clearbridge Investments LLC lifted its position in Allegro MicroSystems by 6.7% during the first quarter. Clearbridge Investments LLC now owns 3,731,268 shares of the company’s stock worth $100,595,000 after acquiring an additional 235,335 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Allegro MicroSystems by 0.5% during the second quarter. Principal Financial Group Inc. now owns 2,190,817 shares of the company’s stock worth $61,869,000 after acquiring an additional 11,230 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Allegro MicroSystems by 15.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,175,421 shares of the company’s stock valued at $35,580,000 after purchasing an additional 155,284 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Allegro MicroSystems by 1.7% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,077,600 shares of the company’s stock worth $32,619,000 after purchasing an additional 17,969 shares during the period. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems Price Performance

Shares of NASDAQ:ALGM opened at $21.13 on Friday. Allegro MicroSystems, Inc. has a fifty-two week low of $20.42 and a fifty-two week high of $34.46. The company’s 50-day moving average is $25.36 and its 200 day moving average is $27.55. The company has a market capitalization of $4.09 billion, a P/E ratio of 27.09 and a beta of 1.68. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.98 and a current ratio of 4.65.

Allegro MicroSystems (NASDAQ:ALGM) last posted its earnings results on Thursday, August 1st. The company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.01. Allegro MicroSystems had a return on equity of 13.88% and a net margin of 7.91%. The business had revenue of $166.90 million during the quarter, compared to analyst estimates of $165.04 million. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s quarterly revenue was down 40.0% compared to the same quarter last year. On average, equities research analysts forecast that Allegro MicroSystems, Inc. will post 0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. UBS Group initiated coverage on shares of Allegro MicroSystems in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 target price for the company. Needham & Company LLC reiterated a “buy” rating and issued a $33.00 price target on shares of Allegro MicroSystems in a research note on Friday, August 2nd. Finally, TD Cowen increased their price objective on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock a “buy” rating in a research note on Thursday, June 13th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and a consensus price target of $34.44.

Insider Activity

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 shares were sold at an average price of $23.16, for a total transaction of $232,001,015.40. Following the completion of the sale, the insider now directly owns 59,732,782 shares in the company, valued at approximately $1,383,411,231.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.50% of the company’s stock.

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