Xponance Inc. Sells 687 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Xponance Inc. cut its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,862 shares of the company’s stock after selling 687 shares during the period. Xponance Inc.’s holdings in Allegro MicroSystems were worth $325,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James Financial Inc. bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at approximately $15,145,000. JPMorgan Chase & Co. raised its stake in Allegro MicroSystems by 20.6% during the third quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock valued at $256,851,000 after purchasing an additional 1,884,578 shares in the last quarter. Keybank National Association OH lifted its position in Allegro MicroSystems by 14.9% during the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company’s stock valued at $257,000 after purchasing an additional 1,522 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Allegro MicroSystems by 86.5% in the 3rd 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. Finally, Venturi Wealth Management LLC bought a new stake in shares of Allegro MicroSystems in the 4th quarter worth about $47,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on ALGM shares. Morgan Stanley lifted their price target on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Needham & Company LLC reissued a “buy” rating and set a $30.00 target price on shares of Allegro MicroSystems in a research report on Monday, February 24th. Mizuho increased their price target on Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a report on Monday. Wells Fargo & Company lifted 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. Finally, Barclays increased their target price on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Allegro MicroSystems presently has an average rating of “Moderate Buy” and an average price target of $31.20.

Allegro MicroSystems Trading Down 4.9 %

ALGM stock opened at $25.53 on Friday. Allegro MicroSystems, Inc. has a 12 month low of $18.59 and a 12 month high of $33.26. The firm’s 50-day moving average is $25.25 and its 200 day moving average is $23.02. The company has a market capitalization of $4.70 billion, a PE ratio of -72.94 and a beta of 1.67. 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

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.