19 hours Ago By ABMN Staff
KLP Kapitalforvaltning AS bought a new stake in Allegro MicroSystems, Inc. ( NASDAQ:ALGM – Free Report ) during the fourth quarter, Holdings Channel.com reports.
The firm bought 27,600 shares of the company’s stock, valued at approximately $603,000. Other hedge funds and other institutional investors also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its position in Allegro MicroSystems by 111.
5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 36,516 shares of the company’s stock valued at $851,000 after acquiring an additional 19,251 shares during the period. Intech Investment Management LLC bought a new position in shares of Allegro MicroSystems in the third quarter worth $214,000.
Charles Schwab Investment Management Inc. increased its holdings in shares of Allegro MicroSystems by 101.6% during the third quarter.
Charles Schwab Investment Management Inc. now owns 1,366,308 shares of the company’s stock valued at $31,835,000 after purchasing an additional 688,539 shares during the period. MetLife Investment Management LLC lifted its holdings in Allegro MicroSystems by 111.
6% in the third quarter. MetLife Investment Management LLC now owns 79,763 shares of the company’s stock worth $1,858,000 after purchasing an additional 42,068 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Allegro MicroSystems by 58.
6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,292 shares of the company’s stock worth $729,000 after purchasing an additional 11,556 shares during the period. Institutional investors and hedge funds own 56.
45% of the company’s stock. Analysts Set New Price Targets Several equities research analysts recently commented on ALGM shares. Wells Fargo & Company boosted their target price on Allegro MicroSystems from $23.
00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Mizuho upped their price objective on Allegro MicroSystems from $28.
00 to $31.00 and gave the company an “outperform” rating in a report on Monday, March 24th. Barclays lifted their target price on Allegro MicroSystems from $25.
00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Morgan Stanley upped their price target on shares of Allegro MicroSystems from $21.
00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.
00 price objective on shares of Allegro MicroSystems in a research note on Monday, February 24th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.
com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $31.20. Allegro MicroSystems Price Performance Shares of NASDAQ ALGM opened at $25.
91 on Thursday. The business has a 50-day moving average of $25.30 and a 200-day moving average of $23.
13. Allegro MicroSystems, Inc. has a fifty-two week low of $18.
59 and a fifty-two week high of $33.26. The company has a debt-to-equity ratio of 0.
40, a current ratio of 4.91 and a quick ratio of 3.00.
The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of -74.03 and a beta of 1.
67. Allegro MicroSystems Company Profile ( Free Report ) 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; and power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers.
Further Reading Want to see what other hedge funds are holding ALGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Allegro MicroSystems, Inc. ( NASDAQ:ALGM – Free Report ).
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