Legal & General Group Plc Has $4.14 Million Stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Legal & General Group Plc decreased its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 189,403 shares of the company's stock after selling 19,344 shares during the quarter. Legal & General Group Plc owned 0.10% of Allegro MicroSystems worth $4,140,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Allegro MicroSystems in the fourth quarter worth $15,145,000. JPMorgan Chase & Co. boosted its holdings in shares of Allegro MicroSystems by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company's stock valued at $256,851,000 after buying an additional 1,884,578 shares during the period. Keybank National Association OH grew its position in shares of Allegro MicroSystems by 14.9% during the 4th quarter. Keybank National Association OH now owns 11,760 shares of the company's stock valued at $257,000 after buying an additional 1,522 shares during the last quarter. Victory Capital Management Inc. raised its stake in Allegro MicroSystems by 25.7% during the fourth quarter. Victory Capital Management Inc. now owns 39,536 shares of the company's stock worth $864,000 after acquiring an additional 8,075 shares during the period. Finally, Venturi Wealth Management LLC bought a new position in Allegro MicroSystems in the fourth quarter worth about $47,000. 56.45% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Needham & Company LLC reissued a "buy" rating and issued a $30.00 price target on shares of Allegro MicroSystems in a 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 report on Monday, February 3rd. Mizuho boosted their target price on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, March 24th. Barclays dropped their price target on shares of Allegro MicroSystems from $30.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company raised their target price 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 eight have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $29.78.

Allegro MicroSystems Price Performance

NASDAQ ALGM traded up $0.25 on Friday, reaching $19.12. The company's stock had a trading volume of 2,105,238 shares, compared to its average volume of 2,474,798. Allegro MicroSystems, Inc. has a twelve month low of $16.38 and a twelve month 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. The firm's 50 day moving average is $23.66 and its two-hundred day moving average is $22.79. The stock has a market cap of $3.52 billion, a PE ratio of -54.63 and a beta of 1.53.

About Allegro MicroSystems

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.