Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Bought by Swiss National Bank

Swiss National Bank raised its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 7.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 253,200 shares of the company's stock after acquiring an additional 18,200 shares during the quarter. Swiss National Bank owned approximately 0.14% of Allegro MicroSystems worth $5,535,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. grew its holdings in shares of Allegro MicroSystems by 90.3% in the third quarter. Victory Capital Management Inc. now owns 31,461 shares of the company's stock worth $733,000 after purchasing an additional 14,925 shares during the last quarter. Natixis Advisors LLC boosted its position in Allegro MicroSystems by 5.7% in the 3rd quarter. Natixis Advisors LLC now owns 30,062 shares of the company's stock valued at $700,000 after buying an additional 1,625 shares during the period. Mutual of America Capital Management LLC grew its stake in Allegro MicroSystems by 105.3% in the 3rd quarter. Mutual of America Capital Management LLC now owns 84,003 shares of the company's stock worth $1,957,000 after acquiring an additional 43,090 shares in the last quarter. Thrivent Financial for Lutherans increased its position in shares of Allegro MicroSystems by 111.5% during the third quarter. Thrivent Financial for Lutherans now owns 36,516 shares of the company's stock worth $851,000 after acquiring an additional 19,251 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in shares of Allegro MicroSystems by 50.9% during the third quarter. Advisors Asset Management Inc. now owns 18,441 shares of the company's stock valued at $430,000 after acquiring an additional 6,219 shares in the last quarter. Hedge funds and other institutional investors own 56.45% of the company's stock.

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Wall Street Analyst Weigh In

Several research analysts have commented on ALGM shares. Barclays raised their price objective 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 lifted their price objective on Allegro MicroSystems from $21.00 to $23.00 and gave the company an "equal weight" rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a "buy" rating and set a $30.00 target price on shares of Allegro MicroSystems in a report on Monday, February 24th. Mizuho raised their target price on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Wells Fargo & Company upped their price target on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an "overweight" rating in a research report on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Allegro MicroSystems has a consensus rating of "Moderate Buy" and an average price target of $31.20.

Allegro MicroSystems Stock Down 4.9 %

Shares of ALGM stock traded down $1.32 during trading hours on Thursday, reaching $25.53. 2,215,963 shares of the company's stock were exchanged, compared to its average volume of 2,207,594. The stock has a market cap of $4.70 billion, a PE ratio of -72.94 and a beta of 1.67. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The stock's fifty day moving average price is $25.22 and its two-hundred day moving average price is $23.00. Allegro MicroSystems, Inc. has a 1 year low of $18.59 and a 1 year high of $33.26.

About Allegro MicroSystems

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.