Aurora Investment Counsel Sells 29,433 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Aurora Investment Counsel reduced its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 48.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,373 shares of the company's stock after selling 29,433 shares during the period. Aurora Investment Counsel's holdings in Allegro MicroSystems were worth $686,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ALGM. Van ECK Associates Corp acquired a new position in Allegro MicroSystems during the third quarter valued at approximately $172,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Allegro MicroSystems during the third quarter worth $1,890,000. Victory Capital Management Inc. grew its stake in shares of Allegro MicroSystems by 90.3% during the third quarter. Victory Capital Management Inc. now owns 31,461 shares of the company's stock worth $733,000 after buying an additional 14,925 shares during the last quarter. KBC Group NV grew its stake in shares of Allegro MicroSystems by 40.9% during the third quarter. KBC Group NV now owns 3,590 shares of the company's stock worth $84,000 after buying an additional 1,042 shares during the last quarter. Finally, Natixis Advisors LLC grew its stake in shares of Allegro MicroSystems by 5.7% during the third quarter. Natixis Advisors LLC now owns 30,062 shares of the company's stock worth $700,000 after buying an additional 1,625 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Trading Down 0.1 %

ALGM traded down $0.04 during trading on Tuesday, reaching $26.90. 2,514,517 shares of the stock traded hands, compared to its average volume of 2,182,563. The company has a quick ratio of 3.00, a current ratio of 4.91 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $4.95 billion, a PE ratio of -76.86 and a beta of 1.67. The stock's 50-day moving average is $24.72 and its 200 day moving average is $22.81. Allegro MicroSystems, Inc. has a 12 month low of $18.59 and a 12 month high of $33.26.

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Analyst Upgrades and Downgrades

A number of analysts have weighed in on ALGM shares. Needham & Company LLC reaffirmed a "buy" rating and set a $30.00 target price on shares of Allegro MicroSystems in a research note on Monday, February 24th. Barclays boosted their target price on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Morgan Stanley boosted their price objective on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems presently has an average rating of "Moderate Buy" and an average target price of $30.70.

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.