924 Shares in Allegro MicroSystems, Inc. (NASDAQ:ALGM) Purchased by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 924 shares of the company’s stock, valued at approximately $28,000.

Several other institutional investors also recently bought and sold shares of the business. Avantax Advisory Services Inc. grew its holdings in Allegro MicroSystems by 5.3% in the third quarter. Avantax Advisory Services Inc. now owns 7,620 shares of the company’s stock valued at $243,000 after purchasing an additional 385 shares during the period. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Allegro MicroSystems by 14.7% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,051 shares of the company’s stock valued at $94,000 after purchasing an additional 390 shares during the period. Prosperity Financial Group Inc. grew its holdings in Allegro MicroSystems by 5.2% in the third quarter. Prosperity Financial Group Inc. now owns 7,996 shares of the company’s stock valued at $255,000 after purchasing an additional 395 shares during the period. Tucker Asset Management LLC grew its holdings in Allegro MicroSystems by 46.2% in the third quarter. Tucker Asset Management LLC now owns 1,500 shares of the company’s stock valued at $48,000 after purchasing an additional 474 shares during the period. Finally, Covestor Ltd grew its holdings in Allegro MicroSystems by 25.4% in the third quarter. Covestor Ltd now owns 2,851 shares of the company’s stock valued at $91,000 after purchasing an additional 578 shares during the period. 56.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALGM. Needham & Company LLC dropped their price objective on Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating on the stock in a report on Friday, February 2nd. Wolfe Research upgraded Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 target price on the stock in a research report on Friday, February 2nd. TD Cowen raised their target price on Allegro MicroSystems from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Finally, Evercore ISI started coverage on Allegro MicroSystems in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $36.00 target price on the stock. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.50.

Allegro MicroSystems Stock Performance

Shares of Allegro MicroSystems stock opened at $30.09 on Tuesday. Allegro MicroSystems, Inc. has a one year low of $24.66 and a one year high of $53.05. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 26.39 and a beta of 1.72. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.19 and a current ratio of 4.57. The business’s 50 day moving average price is $28.36 and its 200 day moving average price is $28.36.

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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.