Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 16.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,135,347 shares of the company's stock after selling 230,961 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.62% of Allegro MicroSystems worth $24,819,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ALGM. Bailard Inc. purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at about $254,000. Handelsbanken Fonder AB grew its holdings in shares of Allegro MicroSystems by 96.8% in the fourth quarter. Handelsbanken Fonder AB now owns 36,400 shares of the company's stock valued at $796,000 after purchasing an additional 17,900 shares during the period. Venturi Wealth Management LLC purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at about $47,000. New Mexico Educational Retirement Board grew its holdings in shares of Allegro MicroSystems by 139.7% in the fourth quarter. New Mexico Educational Retirement Board now owns 31,881 shares of the company's stock valued at $697,000 after purchasing an additional 18,581 shares during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Allegro MicroSystems by 202.3% in the fourth quarter. Van ECK Associates Corp now owns 22,298 shares of the company's stock valued at $487,000 after purchasing an additional 14,922 shares during the period. Hedge funds and other institutional investors own 56.45% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Morgan Stanley upped their price objective 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. Barclays upped their price objective on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the company an "overweight" rating in a report on Friday, January 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $30.00 target price on shares of Allegro MicroSystems in a research report on Monday, February 24th. Finally, Wells Fargo & Company upped their target price on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company 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 issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $30.70.

Allegro MicroSystems Stock Down 1.0 %

Shares of ALGM traded down $0.27 during mid-day trading on Friday, hitting $26.57. 3,312,245 shares of the company's stock were exchanged, compared to its average volume of 2,199,380. The company has a market cap of $4.89 billion, a price-to-earnings ratio of -75.91 and a beta of 1.67. 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 quick ratio of 3.00 and a current ratio of 4.91. The stock's 50-day moving average is $24.98 and its 200-day moving average is $22.90.

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.