Legal & General Group Plc Has $4.14 Million Stock Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Legal & General Group Plc reduced its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 9.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 189,403 shares of the company’s stock after selling 19,344 shares during the quarter. Legal & General Group Plc’s holdings in Allegro MicroSystems were worth $4,140,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. Barclays PLC grew its holdings in shares of Allegro MicroSystems by 88.1% during the 3rd quarter. Barclays PLC now owns 75,620 shares of the company’s stock worth $1,761,000 after purchasing an additional 35,417 shares in the last quarter. Virtu Financial LLC bought a new stake in Allegro MicroSystems during the third quarter worth $516,000. Retirement Systems of Alabama boosted its holdings in shares of Allegro MicroSystems by 77.9% in the 3rd quarter. Retirement Systems of Alabama now owns 229,815 shares of the company’s stock valued at $5,355,000 after purchasing an additional 100,621 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Allegro MicroSystems by 14.1% in the 3rd quarter. Principal Financial Group Inc. now owns 2,499,760 shares of the company’s stock valued at $58,244,000 after purchasing an additional 308,943 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Allegro MicroSystems by 20.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock worth $256,851,000 after buying an additional 1,884,578 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $16.53 on Tuesday. The business’s 50 day simple moving average is $24.27 and its 200 day simple moving average is $22.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. Allegro MicroSystems, Inc. has a one year low of $16.38 and a one year high of $33.26. The stock has a market capitalization of $3.04 billion, a PE ratio of -47.23 and a beta of 1.53.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALGM. Barclays lifted their target price on Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Mizuho raised their target price on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, March 24th. Morgan Stanley raised their price objective on Allegro MicroSystems from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Wells Fargo & Company upped 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, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Allegro MicroSystems in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Allegro MicroSystems presently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

Allegro MicroSystems Company 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.