PFS Investments Inc. has recently increased its stake in Allegro MicroSystems, Inc. by 10.2% in the third quarter, according to a report submitted to the Securities and Exchange Commission (SEC). PFS Investments now holds 1,026,194 shares in Allegro MicroSystems, valued at $88.8 million. This move reflects the company's confidence in Allegro MicroSystems' growth potential and long-term prospects.
Allegro MicroSystems is a leading provider of high-performance power and sensing solutions. Its products are used in a wide range of applications, including automotive, industrial, and consumer electronics. The company recently announced its third-quarter results, reporting revenue of $162.1 million, an increase of 9.7% compared to the same period last year.
PFS Investments' recent investment in Allegro MicroSystems is part of its strategy to invest in companies with strong fundamentals and growth potential. The company has a diversified portfolio that includes investments in various sectors, including technology, healthcare, and consumer goods.
In addition to Allegro MicroSystems, PFS Investments has also acquired a new stake in STERIS plc during the third quarter of 2018, as stated in the most recent Form 13F filing. STERIS plc is a leading provider of infection prevention and surgical products and services. The company's products and services are used in hospitals, surgical centers, and other healthcare facilities.
PFS Investments is also reported to have made a new investment in Amdocs Ltd during the third quarter of this year. Amdocs Ltd is a leading provider of software and services to communications and media companies. The company's products and services are used by some of the world's largest telecommunications companies.
For investors new to the resource sector, understanding the importance of prefeasibility and feasibility studies is key. These studies are used to evaluate the economic viability of a mining project and determine whether it is feasible to move forward with development. PFS Investments has a strong track record of investing in resource companies with promising projects and solid fundamentals.
APEX Group, a leading fund administration company, has recently acquired Pacific Fund Systems (PFS), a fund administration software firm. This acquisition will strengthen APEX Group's technology platform and enable it to offer a broader range of services to its clients.
With inflation and recession fears looming, middle-income Americans are wondering whether they should continue to add to their retirement accounts or cut back. PFS Investments encourages investors to stay the course and not let short-term market fluctuations derail their long-term retirement goals.
Verition Fund Management LLC has raised its holdings in shares of MP Materials Corp. by 59.6% in the third quarter. MP Materials is the only rare earth mining and processing company in the United States. The company's products are used in a wide range of applications, including electric vehicles, wind turbines, and defense systems.
In other news, the Financial Industry Regulatory Authority has barred a former Primerica/PFS Investments representative who had been accused of submitting false information to the company. The representative had allegedly falsified client account information and failed to disclose outside business activities.
