Wall Street Zen downgraded Allegro MicroSystems (NASDAQ:ALGM) from buy to hold on Saturday. The company recently exceeded its quarterly earnings and revenue expectations.
Allegro’s stock price fell 8.1% to $46.03 during the previous trading session. Recent regulatory filings revealed share sales by the company’s CEO and a senior vice president.
Analysts maintain a Moderate Buy consensus for the stock. The average price target for the company currently sits at $55.20. Granahan Investment Management recently increased its stake by more than 139%.