Quantinno Capital Management LP Has $363,000 Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Quantinno Capital Management LP trimmed its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 62.8% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,575 shares of the company’s stock after selling 26,344 shares during the period. Quantinno Capital Management LP’s holdings in Allegro MicroSystems were worth $363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of Allegro MicroSystems by 43.3% in the third quarter. FMR LLC now owns 28,253,811 shares of the company’s stock valued at $658,314,000 after buying an additional 8,534,089 shares during the period. Loomis Sayles & Co. L P acquired a new position in Allegro MicroSystems in the 3rd quarter valued at approximately $18,269,000. Westfield Capital Management Co. LP lifted its position in shares of Allegro MicroSystems by 54.6% in the 3rd quarter. Westfield Capital Management Co. LP now owns 2,014,481 shares of the company’s stock worth $46,937,000 after acquiring an additional 711,185 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Allegro MicroSystems by 101.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,366,308 shares of the company’s stock worth $31,835,000 after purchasing an additional 688,539 shares in the last quarter. Finally, Paloma Partners Management Co bought a new stake in shares of Allegro MicroSystems during the third quarter valued at approximately $11,874,000. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Up 1.7 %

Shares of ALGM opened at $22.00 on Monday. The business’s 50 day simple moving average is $21.16 and its 200-day simple moving average is $24.23. Allegro MicroSystems, Inc. has a one year low of $18.59 and a one year high of $33.26. The company has a market capitalization of $4.05 billion, a P/E ratio of -157.14 and a beta of 1.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 4.22 and a quick ratio of 2.80.

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

Analyst Ratings Changes

Several equities research analysts have issued reports on ALGM shares. Wells Fargo & Company initiated coverage on shares of Allegro MicroSystems in a report on Friday, November 22nd. They issued an “overweight” rating and a $23.00 price target on the stock. UBS Group initiated coverage on shares of Allegro MicroSystems in a research note on Tuesday, September 3rd. They issued a “buy” rating and a $33.00 target price on the stock. Loop Capital initiated coverage on shares of Allegro MicroSystems in a research note on Tuesday, November 12th. They set a “buy” rating and a $30.00 price target for the company. Mizuho set a $26.00 price objective on Allegro MicroSystems in a report on Friday, October 18th. Finally, Morgan Stanley assumed coverage on Allegro MicroSystems in a report on Thursday, November 7th. They issued an “equal weight” rating and a $21.00 target price for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.09.

Insiders Place Their Bets

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

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.