Amundi Has $1.35 Million Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Amundi lessened its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,994 shares of the company’s stock after selling 1,353 shares during the quarter. Amundi’s holdings in Allegro MicroSystems were worth $1,350,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC bought a new position in Allegro MicroSystems during the 4th quarter worth $47,000. KBC Group NV raised its position in shares of Allegro MicroSystems by 40.9% during the third quarter. KBC Group NV now owns 3,590 shares of the company’s stock worth $84,000 after acquiring an additional 1,042 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Allegro MicroSystems in the third quarter worth approximately $214,000. Prosperity Financial Group Inc. boosted its holdings in Allegro MicroSystems by 7.9% in the third quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company’s stock valued at $248,000 after acquiring an additional 784 shares during the last quarter. Finally, Bailard Inc. acquired a new stake in Allegro MicroSystems during the 4th quarter valued at approximately $254,000. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Stock Performance

Shares of ALGM stock opened at $26.90 on Wednesday. Allegro MicroSystems, Inc. has a 52 week low of $18.59 and a 52 week high of $33.26. The firm’s 50-day simple moving average is $24.77 and its two-hundred day simple moving average is $22.83. The firm has a market cap of $4.95 billion, a price-to-earnings ratio of -76.86 and a beta of 1.67. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.00 and a current ratio of 4.91.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALGM shares. Needham & Company LLC restated a “buy” rating and issued a $30.00 price target on shares of Allegro MicroSystems in a research report on Monday, February 24th. Wells Fargo & Company boosted their target price on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Morgan Stanley increased their price target on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Finally, Barclays upped 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. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Allegro MicroSystems currently 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.