Allegro MicroSystems, Inc. $ALGM Shares Sold by GW&K Investment Management LLC

GW&K Investment Management LLC lowered its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 683,505 shares of the company’s stock after selling 21,313 shares during the quarter. GW&K Investment Management LLC owned 0.37% of Allegro MicroSystems worth $19,958,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in ALGM. Hantz Financial Services Inc. grew its position in shares of Allegro MicroSystems by 86.9% in the third quarter. Hantz Financial Services Inc. now owns 901 shares of the company’s stock valued at $26,000 after purchasing an additional 419 shares during the period. Quent Capital LLC purchased a new position in Allegro MicroSystems in the 3rd quarter valued at about $28,000. Nisa Investment Advisors LLC boosted its holdings in Allegro MicroSystems by 158.8% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,210 shares of the company’s stock worth $76,000 after buying an additional 1,356 shares during the last quarter. TD Waterhouse Canada Inc. increased its stake in Allegro MicroSystems by 82.9% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 3,038 shares of the company’s stock worth $104,000 after buying an additional 1,377 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Allegro MicroSystems by 3,614.0% during the 3rd quarter. Global Retirement Partners LLC now owns 4,494 shares of the company’s stock worth $131,000 after buying an additional 4,373 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Price Performance

Shares of ALGM stock opened at $32.78 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 3.65 and a quick ratio of 2.39. The company has a market capitalization of $6.07 billion, a PE ratio of -409.75 and a beta of 1.64. The firm’s 50-day moving average is $34.89 and its two-hundred day moving average is $30.79. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $43.86.

Allegro MicroSystems (NASDAQ:ALGM) last posted its quarterly earnings results on Thursday, January 29th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The business had revenue of $229.21 million during the quarter, compared to analysts’ expectations of $220.78 million. Allegro MicroSystems had a negative net margin of 1.57% and a positive return on equity of 4.35%. The business’s revenue for the quarter was up 28.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.07 EPS. Analysts predict that Allegro MicroSystems, Inc. will post 0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALGM. Weiss Ratings restated a “sell (e+)” rating on shares of Allegro MicroSystems in a research report on Monday, December 29th. Morgan Stanley upgraded Allegro MicroSystems from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a report on Friday, February 13th. Mizuho set a $38.00 target price on shares of Allegro MicroSystems in a research note on Tuesday, December 16th. Wall Street Zen upgraded shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research report on Sunday, January 18th. Finally, Bank of America raised their price target on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. Ten investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and an average price target of $45.00.

About Allegro MicroSystems

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.