Natixis Advisors LLC Lowers Stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Natixis Advisors LLC cut its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 12.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 26,171 shares of the company’s stock after selling 3,891 shares during the quarter. Natixis Advisors LLC’s holdings in Allegro MicroSystems were worth $572,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Venturi Wealth Management LLC acquired a new position in Allegro MicroSystems in the 4th quarter valued at about $47,000. Intech Investment Management LLC purchased a new position in shares of Allegro MicroSystems in the 3rd quarter valued at approximately $214,000. Bailard Inc. acquired a new position in shares of Allegro MicroSystems in the fourth quarter valued at approximately $254,000. Keybank National Association OH raised its stake in shares of Allegro MicroSystems by 14.9% during the fourth 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, Avior Wealth Management LLC lifted its holdings in shares of Allegro MicroSystems by 5.3% during the fourth quarter. Avior Wealth Management LLC now owns 14,691 shares of the company’s stock worth $321,000 after purchasing an additional 737 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.

Allegro MicroSystems Stock Performance

Shares of ALGM opened at $25.53 on Friday. Allegro MicroSystems, Inc. has a 12-month low of $18.59 and a 12-month high of $33.26. The stock has a market cap of $4.70 billion, a P/E ratio of -72.94 and a beta of 1.67. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $25.25 and a two-hundred day moving average of $23.02.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALGM shares. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Allegro MicroSystems in a research report on Monday, February 24th. Morgan Stanley increased their price objective on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Mizuho boosted their target price on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company upped their price target on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Barclays raised their price objective on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.20.

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.