Cwm LLC Buys 886 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Cwm LLC raised its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 35.6% in the fourth quarter, HoldingsChannel reports. The fund owned 3,377 shares of the company’s stock after acquiring an additional 886 shares during the period. Cwm LLC’s holdings in Allegro MicroSystems were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ALGM. Avantax Advisory Services Inc. boosted its stake in Allegro MicroSystems by 5.3% in the 3rd 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. boosted its position in shares of 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 acquiring an additional 390 shares during the period. Prosperity Financial Group Inc. grew its stake in shares of 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 acquiring an additional 395 shares in the last quarter. Tucker Asset Management LLC increased its position in Allegro MicroSystems by 46.2% during the third quarter. Tucker Asset Management LLC now owns 1,500 shares of the company’s stock worth $48,000 after acquiring an additional 474 shares during the period. Finally, Covestor Ltd raised its stake in Allegro MicroSystems by 25.4% in the 3rd quarter. Covestor Ltd now owns 2,851 shares of the company’s stock worth $91,000 after purchasing an additional 578 shares in the last quarter. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

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

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $30.09 on Tuesday. The stock has a fifty day moving average of $28.36 and a 200-day moving average of $28.36. The stock has a market capitalization of $5.81 billion, a P/E 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. Allegro MicroSystems, Inc. has a 52 week low of $24.66 and a 52 week high of $53.05.

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