1 week Ago By Defense World Staff
Geode Capital Management LLC cut its holdings in Allegro MicroSystems, Inc. ( NASDAQ:ALGM – Free Report ) by 7.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission.
The institutional investor owned 2,364,582 shares of the company’s stock after selling 196,900 shares during the period. Geode Capital Management LLC owned approximately 1.28% of Allegro MicroSystems worth $51,705,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the business. Venturi Wealth Management LLC bought a new stake in shares of Allegro MicroSystems during the 4th quarter worth about $47,000. Bailard Inc.
bought a new stake in Allegro MicroSystems during the fourth quarter worth approximately $254,000. Keybank National Association OH grew its holdings in Allegro MicroSystems by 14.9% during the fourth quarter.
Keybank National Association OH now owns 11,760 shares of the company’s stock valued at $257,000 after purchasing an additional 1,522 shares during the last quarter. Avior Wealth Management LLC raised its position in shares of Allegro MicroSystems by 5.3% in the fourth quarter.
Avior Wealth Management LLC now owns 14,691 shares of the company’s stock valued at $321,000 after purchasing an additional 737 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Allegro MicroSystems by 49.4% in the third quarter.
Toronto Dominion Bank now owns 15,832 shares of the company’s stock worth $369,000 after buying an additional 5,232 shares during the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes Several research analysts recently commented on ALGM shares. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 target price on shares of Allegro MicroSystems in a report on Monday, February 24th.
Morgan Stanley lifted their price objective on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd.
Mizuho raised their target price on Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday, March 24th.
Wells Fargo & Company lifted their price target on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th.
Finally, Barclays increased their price objective on Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th.
One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.20.
Allegro MicroSystems Stock Up 1.9 % Shares of ALGM stock opened at $22.23 on Monday.
Allegro MicroSystems, Inc. has a one year low of $18.34 and a one year 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 fifty day moving average price of $24.
92 and a 200 day moving average price of $23.04. The stock has a market cap of $4.
09 billion, a P/E ratio of -63.51 and a beta of 1.53.
Allegro MicroSystems 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. Read More Five stocks we like better than Allegro MicroSystems How to Short Nasdaq: An Easy-to-Follow Guide Is McDonald’s Stock Serving a Value Meal to Investors? What is the Nasdaq? Complete Overview with History Walgreens Comeback? Private Equity Circling for a Buyout Canada Bond Market Holiday: How to Invest and Trade Coca-Cola Stock Looks Refreshing After the Relief Rally Receive News & Ratings for Allegro MicroSystems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Allegro MicroSystems and related companies with MarketBeat.
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