Conestoga Capital Advisors LLC Purchases New Stake in Allegro MicroSystems, Inc. $ALGM

Conestoga Capital Advisors LLC purchased a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 719,595 shares of the company’s stock, valued at approximately $26,157,000. Conestoga Capital Advisors LLC owned approximately 0.39% of Allegro MicroSystems as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the stock. Oregon Public Employees Retirement Fund raised its position in shares of Allegro MicroSystems by 2.3% during the third quarter. Oregon Public Employees Retirement Fund now owns 26,237 shares of the company’s stock worth $954,000 after purchasing an additional 600 shares during the period. TSG Advice Partners LLC purchased a new stake in shares of Allegro MicroSystems during the third quarter valued at $368,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Allegro MicroSystems during the third quarter valued at $379,000. ProShare Advisors LLC lifted its holdings in shares of Allegro MicroSystems by 36.6% during the third quarter. ProShare Advisors LLC now owns 18,312 shares of the company’s stock valued at $666,000 after purchasing an additional 4,905 shares during the last quarter. Finally, Vise Technologies Inc. boosted its position in shares of Allegro MicroSystems by 120.5% in the 3rd quarter. Vise Technologies Inc. now owns 9,915 shares of the company’s stock valued at $360,000 after purchasing an additional 5,419 shares during the period. Institutional investors own 56.45% of the company’s stock.

Insider Buying and Selling

In other Allegro MicroSystems news, SVP Erin Hagen sold 2,285 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $44.39, for a total transaction of $101,431.15. Following the completion of the transaction, the senior vice president owned 31,052 shares in the company, valued at $1,378,398.28. This trade represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada started coverage on Allegro MicroSystems in a research note on Friday, October 2nd. They issued an “outperform” rating and a $50.00 price target on the stock. Wall Street Zen raised shares of Allegro MicroSystems from a “hold” rating to a “buy” rating in a research note on Sunday, August 2nd. UBS Group dropped their price objective on Allegro MicroSystems from $50.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Weiss Ratings lowered Allegro MicroSystems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, October 23rd. Finally, Needham & Company LLC decreased their target price on Allegro MicroSystems from $57.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Allegro MicroSystems has a consensus rating of “Moderate Buy” and an average price target of $48.75.

Allegro MicroSystems Stock Down 7.2%

ALGM opened at $31.25 on Thursday. The company has a market capitalization of $5.83 billion, a P/E ratio of 208.35, a P/E/G ratio of 0.99 and a beta of 2.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 4.13 and a quick ratio of 2.79. The firm’s fifty day moving average price is $34.83 and its two-hundred day moving average price is $40.67. Allegro MicroSystems, Inc. has a fifty-two week low of $22.41 and a fifty-two week high of $71.77.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. Allegro MicroSystems had a net margin of 3.07% and a return on equity of 10.34%. The company had revenue of $276.88 million during the quarter, compared to the consensus estimate of $270.86 million. During the same period last year, the firm earned $0.13 EPS. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. On average, analysts anticipate that Allegro MicroSystems, Inc. will post 0.65 EPS for the current year.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc is a semiconductor company that develops and manufactures magnetic sensing and power-management solutions. Its products are designed to help monitor motion, position, speed, current and temperature, as well as control power in electronic systems.

The company’s portfolio includes Hall-effect and other magnetic sensors, current sensors, motor drivers, regulators, LED drivers and related integrated circuits. These products are used in automotive applications such as advanced driver-assistance systems, vehicle electrification, powertrain systems, comfort features and safety systems, as well as in industrial and consumer equipment.

Founded in 1990 and headquartered in Manchester, New Hampshire, Allegro serves customers globally through its international operations and distribution network.