JPMorgan Chase & Co. Has $230.22 Million Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

JPMorgan Chase & Co. cut its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 4.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 10,531,507 shares of the company's stock after selling 492,121 shares during the quarter. JPMorgan Chase & Co. owned about 5.72% of Allegro MicroSystems worth $230,219,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Allegro MicroSystems in the 4th quarter valued at about $15,145,000. Keybank National Association OH grew its holdings in shares of Allegro MicroSystems by 14.9% during the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company's stock worth $257,000 after buying an additional 1,522 shares in the last quarter. Geode Capital Management LLC raised its position in Allegro MicroSystems by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,561,482 shares of the company's stock valued at $59,699,000 after buying an additional 1,187,792 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Allegro MicroSystems by 25.7% in the 4th quarter. Victory Capital Management Inc. now owns 39,536 shares of the company's stock valued at $864,000 after acquiring an additional 8,075 shares in the last quarter. Finally, Venturi Wealth Management LLC acquired a new position in Allegro MicroSystems during the 4th quarter worth approximately $47,000. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Stock Performance

NASDAQ ALGM traded down $1.57 during trading on Friday, reaching $21.32. 3,981,019 shares of the company's stock were exchanged, compared to its average volume of 2,312,010. 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 business has a 50 day moving average price of $25.20 and a 200-day moving average price of $23.12. The stock has a market capitalization of $3.93 billion, a P/E ratio of -60.91 and a beta of 1.53. Allegro MicroSystems, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $33.26.

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Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, March 24th. Needham & Company LLC reissued a "buy" rating and set a $30.00 price target on shares of Allegro MicroSystems in a research report on Monday, February 24th. Morgan Stanley increased 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. Barclays lifted their target price on Allegro MicroSystems from $25.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. Finally, Wells Fargo & Company increased their price target on Allegro MicroSystems from $23.00 to $27.00 and gave the company an "overweight" rating in a research report on Monday, January 13th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $31.20.

Allegro MicroSystems Company 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.