Talos Asset Management LP Invests $16.25 Million in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Talos Asset Management LP acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 743,144 shares of the company's stock, valued at approximately $16,245,000. Allegro MicroSystems comprises approximately 3.8% of Talos Asset Management LP's investment portfolio, making the stock its 12th biggest position. Talos Asset Management LP owned 0.40% of Allegro MicroSystems at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Venturi Wealth Management LLC purchased a new position in Allegro MicroSystems during the 4th quarter valued at about $47,000. KBC Group NV increased 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 valued at $84,000 after buying an additional 1,042 shares during the period. Intech Investment Management LLC bought a new position in shares of Allegro MicroSystems during the third quarter valued at approximately $214,000. Prosperity Financial Group Inc. lifted its stake in Allegro MicroSystems by 7.9% in the third quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company's stock worth $248,000 after acquiring an additional 784 shares during the period. Finally, Bailard Inc. bought a new stake in Allegro MicroSystems in the fourth quarter valued at $254,000. Institutional investors own 56.45% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays raised their target price on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, January 17th. Mizuho raised their price objective on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday. Morgan Stanley upped their target price on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an "equal weight" rating in a report on Monday, February 3rd. Needham & Company LLC restated a "buy" rating and issued a $30.00 target price on shares of Allegro MicroSystems in a research note on Monday, February 24th. Finally, Wells Fargo & Company upped their price target on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an "overweight" rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.20.

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Allegro MicroSystems Stock Up 2.3 %

Shares of ALGM traded up $0.62 during trading hours on Monday, hitting $27.19. The company had a trading volume of 1,776,789 shares, compared to its average volume of 2,202,302. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of -77.69 and a beta of 1.67. The firm has a fifty day moving average price of $24.98 and a 200-day moving average price of $22.90. Allegro MicroSystems, Inc. has a 52-week low of $18.59 and a 52-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.

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.