Landscape Capital Management L.L.C. acquired a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,318 shares of the company's stock, valued at approximately $313,000.
Other large investors have also recently made changes to their positions in the company. Bryce Point Capital LLC purchased a new position in shares of Allegro MicroSystems during the 4th quarter valued at $1,446,000. Alliancebernstein L.P. raised its holdings in Allegro MicroSystems by 183.1% during the fourth quarter. Alliancebernstein L.P. now owns 528,173 shares of the company's stock valued at $11,546,000 after acquiring an additional 341,627 shares during the period. Wellington Management Group LLP lifted its position in shares of Allegro MicroSystems by 30.5% in the fourth quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company's stock valued at $87,302,000 after acquiring an additional 934,048 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Allegro MicroSystems by 2.4% in the fourth quarter. Schroder Investment Management Group now owns 441,623 shares of the company's stock worth $9,530,000 after acquiring an additional 10,155 shares during the period. Finally, Pictet Asset Management Holding SA grew its position in shares of Allegro MicroSystems by 10.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,653 shares of the company's stock worth $386,000 after purchasing an additional 1,687 shares in the last quarter. 56.45% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on ALGM shares. Mizuho upped their price target on Allegro MicroSystems from $28.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, March 24th. Morgan Stanley upped their target price on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. Wells Fargo & Company lifted their price target on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company an "overweight" rating in a report on Monday, January 13th. Needham & Company LLC reissued a "buy" rating and set a $30.00 price objective on shares of Allegro MicroSystems in a report on Monday, February 24th. Finally, Barclays increased their price objective on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the company an "overweight" rating in a research report on Friday, January 17th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems has a consensus rating of "Moderate Buy" and an average target price of $31.20.
View Our Latest Stock Report on ALGM
Allegro MicroSystems Trading Up 1.9 %
Shares of Allegro MicroSystems stock traded up $0.41 during trading on Friday, hitting $22.23. The stock had a trading volume of 3,423,518 shares, compared to its average volume of 2,368,015. The stock has a market cap of $4.09 billion, a PE ratio of -63.51 and a beta of 1.53. Allegro MicroSystems, Inc. has a 12 month low of $18.34 and a 12 month high of $33.26. The firm's fifty day simple moving average is $24.92 and its 200-day simple moving average is $23.04. 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 Company Profile
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Free Report)
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.
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