203,433 Shares in Allegro MicroSystems, Inc. (NASDAQ:ALGM) Purchased by Lightrock Netherlands B.V.

Lightrock Netherlands B.V. bought a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 203,433 shares of the company’s stock, valued at approximately $4,469,000.

Several other large investors have also recently made changes to their positions in the business. FMR LLC grew its stake in shares of Allegro MicroSystems by 43.3% in the 3rd quarter. FMR LLC now owns 28,253,811 shares of the company’s stock worth $658,314,000 after buying an additional 8,534,089 shares during the last quarter. Wellington Management Group LLP bought a new stake in Allegro MicroSystems in the third quarter worth $71,289,000. JPMorgan Chase & Co. grew its stake in shares of Allegro MicroSystems by 20.6% in the third quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock worth $256,851,000 after acquiring an additional 1,884,578 shares during the last quarter. State Street Corp increased its holdings in shares of Allegro MicroSystems by 41.7% during the third quarter. State Street Corp now owns 5,486,289 shares of the company’s stock valued at $127,831,000 after acquiring an additional 1,615,351 shares in the last quarter. Finally, Geode Capital Management LLC raised its position 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 purchasing an additional 1,187,792 shares during the last quarter. 56.45% of the stock is currently owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Down 3.7 %

ALGM stock opened at $23.37 on Tuesday. Allegro MicroSystems, Inc. has a fifty-two week low of $18.59 and a fifty-two week high of $33.26. The business’s 50-day moving average is $22.93 and its two-hundred day moving average is $22.48. 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 company has a market cap of $4.30 billion, a price-to-earnings ratio of -66.77 and a beta of 1.66.

Insider Buying and Selling at Allegro MicroSystems

In other Allegro MicroSystems news, SVP Michael Doogue bought 15,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was bought at an average cost of $19.00 per share, for a total transaction of $285,000.00. Following the completion of the transaction, the senior vice president now owns 246,086 shares of the company’s stock, valued at $4,675,634. This represents a 6.49 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ALGM. Morgan Stanley increased their price objective on shares of Allegro MicroSystems from $21.00 to $23.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Mizuho set a $26.00 price target on shares of Allegro MicroSystems in a report on Friday, October 18th. Barclays boosted their price objective on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Wells Fargo & Company lifted their target price on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Finally, Loop Capital started coverage on Allegro MicroSystems in a report on Tuesday, November 12th. They set a “buy” rating and a $30.00 price target on the stock. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.70.

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.