Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Sold by Trillium Asset Management LLC

Trillium Asset Management LLC trimmed its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 7.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 256,810 shares of the company's stock after selling 20,747 shares during the period. Trillium Asset Management LLC owned 0.14% of Allegro MicroSystems worth $5,614,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC boosted its stake in Allegro MicroSystems by 43.3% during the 3rd quarter. FMR LLC now owns 28,253,811 shares of the company's stock valued at $658,314,000 after purchasing an additional 8,534,089 shares during the last quarter. Wellington Management Group LLP bought a new position in shares of Allegro MicroSystems in the third quarter worth approximately $71,289,000. JPMorgan Chase & Co. increased its stake in Allegro MicroSystems by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company's stock worth $256,851,000 after buying an additional 1,884,578 shares in the last quarter. State Street Corp raised its stake in Allegro MicroSystems by 41.7% during the 3rd quarter. State Street Corp now owns 5,486,289 shares of the company's stock valued at $127,831,000 after purchasing an additional 1,615,351 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Allegro MicroSystems by 86.5% in the third quarter. Geode Capital Management LLC now owns 2,561,482 shares of the company's stock worth $59,699,000 after buying an additional 1,187,792 shares in the last quarter. 56.45% of the stock is currently owned by institutional investors.

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Allegro MicroSystems Stock Performance

Shares of ALGM stock traded up $0.62 during mid-day trading on Monday, hitting $27.19. 1,776,789 shares of the stock were exchanged, 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. Allegro MicroSystems, Inc. has a 12-month low of $18.59 and a 12-month high of $33.26. The stock's fifty day simple moving average is $24.98 and its two-hundred day simple moving average is $22.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.00 and a current ratio of 4.91.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALGM shares. Morgan Stanley lifted 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. Wells Fargo & Company upped their price target 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. 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. Mizuho increased their price objective on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $30.00 target price on shares of Allegro MicroSystems in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, Allegro MicroSystems presently has an average rating of "Moderate Buy" and a consensus 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.