Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC increased its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 59.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,364 shares of the company’s stock after purchasing an additional 2,758 shares during the period. Sterling Capital Management LLC’s holdings in Allegro MicroSystems were worth $161,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Venturi Wealth Management LLC acquired a new position in shares of Allegro MicroSystems during the fourth quarter valued at approximately $47,000. Aster Capital Management DIFC Ltd acquired a new position in Allegro MicroSystems in the 4th quarter valued at $186,000. Bailard Inc. purchased a new position in Allegro MicroSystems in the 4th quarter valued at $254,000. Keybank National Association OH boosted its stake in Allegro MicroSystems by 14.9% during the 4th quarter. Keybank National Association OH now owns 11,760 shares of the company’s stock worth $257,000 after purchasing an additional 1,522 shares during the last quarter. Finally, Landscape Capital Management L.L.C. purchased a new stake in shares of Allegro MicroSystems during the fourth quarter worth $313,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALGM has been the topic of a number of recent research reports. Mizuho boosted their price target on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, March 24th. Morgan Stanley boosted 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. Wells Fargo & Company lifted their price objective on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Needham & Company LLC restated a “buy” rating and issued a $30.00 target price on shares of Allegro MicroSystems in a report on Monday, February 24th. Finally, Barclays lifted their price target on Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $30.67.

Allegro MicroSystems Stock Down 8.5 %

Allegro MicroSystems stock opened at $16.53 on Tuesday. 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 has a 50 day moving average price of $24.27 and a 200 day moving average price of $22.89. Allegro MicroSystems, Inc. has a fifty-two week low of $16.38 and a fifty-two week high of $33.26. The company has a market capitalization of $3.04 billion, a PE ratio of -47.23 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.