Migdal Insurance & Financial Holdings Ltd. Has $94,000 Stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Migdal Insurance & Financial Holdings Ltd. lifted its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 14.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 3,051 shares of the company’s stock after acquiring an additional 390 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in Allegro MicroSystems were worth $94,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Allegro MicroSystems by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,361,938 shares of the company’s stock worth $235,140,000 after acquiring an additional 355,814 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Allegro MicroSystems by 21.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,052,437 shares of the company’s stock worth $129,435,000 after acquiring an additional 727,535 shares during the period. Robbins Farley bought a new position in shares of Allegro MicroSystems during the 3rd quarter worth about $2,144,000. Sei Investments Co. lifted its holdings in shares of Allegro MicroSystems by 42.5% during the 3rd quarter. Sei Investments Co. now owns 391,144 shares of the company’s stock worth $12,494,000 after acquiring an additional 116,603 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Allegro MicroSystems by 51.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 123,376 shares of the company’s stock worth $3,941,000 after acquiring an additional 41,999 shares during the period. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Trading Down 2.8 %

Shares of NASDAQ ALGM opened at $26.41 on Friday. Allegro MicroSystems, Inc. has a 1-year low of $24.66 and a 1-year high of $53.05. The company has a market cap of $5.10 billion, a PE ratio of 23.17 and a beta of 1.82. The company has a current ratio of 4.57, a quick ratio of 3.19 and a debt-to-equity ratio of 0.22. The company has a 50-day moving average of $28.90 and a two-hundred day moving average of $28.54.

Allegro MicroSystems (NASDAQ:ALGM) last announced its earnings results on Thursday, February 1st. The company reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.03. Allegro MicroSystems had a net margin of 21.14% and a return on equity of 23.84%. The company had revenue of $254.98 million during the quarter, compared to the consensus estimate of $255.00 million. As a group, equities analysts expect that Allegro MicroSystems, Inc. will post 1.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALGM. Wolfe Research raised shares of Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Friday, February 2nd. TD Cowen lifted their price target on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Evercore ISI began coverage on shares of Allegro MicroSystems in a report on Tuesday. They set an “outperform” rating and a $36.00 price target for the company. Finally, Needham & Company LLC cut their price target on shares of Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating for the company in a report on Friday, February 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

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