KBC Group NV Has $488,000 Stock Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

KBC Group NV boosted its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 522.1% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,335 shares of the company's stock after buying an additional 18,745 shares during the period. KBC Group NV's holdings in Allegro MicroSystems were worth $488,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp bought a new position in shares of Allegro MicroSystems during the third quarter worth about $172,000. Intech Investment Management LLC bought a new stake in Allegro MicroSystems during the third quarter valued at $214,000. nVerses Capital LLC acquired a new stake in shares of Allegro MicroSystems during the third quarter worth $231,000. Prosperity Financial Group Inc. lifted its position in shares of Allegro MicroSystems by 7.9% in the 3rd quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company's stock worth $248,000 after buying an additional 784 shares during the last quarter. Finally, Avior Wealth Management LLC boosted its holdings in shares of Allegro MicroSystems by 51.2% in the 3rd quarter. Avior Wealth Management LLC now owns 13,954 shares of the company's stock valued at $325,000 after buying an additional 4,728 shares during the period. Institutional investors and hedge funds own 56.45% of the company's stock.

Insider Activity

In other Allegro MicroSystems news, SVP Michael Doogue bought 15,000 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was acquired at an average cost of $19.00 per share, with a total value of $285,000.00. Following the completion of the purchase, the senior vice president now directly owns 246,086 shares in the company, valued at approximately $4,675,634. This trade represents a 6.49 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ALGM shares. Mizuho set a $26.00 price objective on shares of Allegro MicroSystems in a research note on Friday, October 18th. Morgan Stanley raised their price target on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday. Needham & Company LLC restated a "buy" rating and set a $30.00 price objective on shares of Allegro MicroSystems in a research note on Friday, January 31st. Barclays raised their target price on Allegro MicroSystems from $25.00 to $30.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Finally, Wells Fargo & Company increased their price objective on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an "overweight" rating in a 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $30.70.

Allegro MicroSystems Price Performance

Shares of NASDAQ ALGM traded up $0.40 during mid-day trading on Thursday, reaching $25.01. 2,226,608 shares of the company traded hands, compared to its average volume of 2,542,212. The firm has a market cap of $4.60 billion, a PE ratio of -71.46 and a beta of 1.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. Allegro MicroSystems, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $33.26. The stock has a fifty day simple moving average of $22.86 and a 200-day simple moving average of $22.57.

Allegro MicroSystems Profile

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.