Xponance Inc. Sells 687 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Xponance Inc. trimmed its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 4.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,862 shares of the company’s stock after selling 687 shares during the quarter. Xponance Inc.’s holdings in Allegro MicroSystems were worth $325,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ALGM. Victory Capital Management Inc. grew its holdings in Allegro MicroSystems by 90.3% during the 3rd quarter. Victory Capital Management Inc. now owns 31,461 shares of the company’s stock worth $733,000 after acquiring an additional 14,925 shares in the last quarter. Natixis Advisors LLC raised its stake in Allegro MicroSystems by 5.7% in the third quarter. Natixis Advisors LLC now owns 30,062 shares of the company’s stock worth $700,000 after buying an additional 1,625 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Allegro MicroSystems by 111.5% during the third quarter. Thrivent Financial for Lutherans now owns 36,516 shares of the company’s stock worth $851,000 after buying an additional 19,251 shares during the period. Advisors Asset Management Inc. boosted its position in Allegro MicroSystems by 50.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 18,441 shares of the company’s stock valued at $430,000 after acquiring an additional 6,219 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of Allegro MicroSystems in the 3rd quarter valued at $214,000. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $25.53 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. The company’s fifty day moving average price is $25.25 and its 200-day moving average price is $23.02. Allegro MicroSystems, Inc. has a 1-year low of $18.59 and a 1-year high of $33.26. The firm has a market capitalization of $4.70 billion, a PE ratio of -72.94 and a beta of 1.67.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays upped their price objective on Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Morgan Stanley raised their price target on shares of 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 lifted their price objective on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Mizuho increased 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 price target on shares of Allegro MicroSystems in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $31.20.

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.