Kennedy Capital Management LLC Sells 64,469 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Kennedy Capital Management LLC decreased its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 28.4% in the fourth quarter, HoldingsChannel reports. The firm owned 162,766 shares of the company’s stock after selling 64,469 shares during the quarter. Kennedy Capital Management LLC’s holdings in Allegro MicroSystems were worth $3,558,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ALGM. JPMorgan Chase & Co. increased its stake in shares of Allegro MicroSystems by 20.6% during the third quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock valued at $256,851,000 after buying an additional 1,884,578 shares during the period. State Street Corp boosted its holdings in Allegro MicroSystems by 41.7% in the third quarter. State Street Corp now owns 5,486,289 shares of the company’s stock valued at $127,831,000 after acquiring an additional 1,615,351 shares in the last quarter. Wellington Management Group LLP increased its position in Allegro MicroSystems by 30.5% during the 4th quarter. Wellington Management Group LLP now owns 3,993,682 shares of the company’s stock valued at $87,302,000 after purchasing an additional 934,048 shares during the period. Geode Capital Management LLC raised its holdings in Allegro MicroSystems by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,561,482 shares of the company’s stock worth $59,699,000 after purchasing an additional 1,187,792 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position 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 worth $58,244,000 after purchasing an additional 308,943 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Allegro MicroSystems Trading Up 1.9 %

NASDAQ ALGM opened at $22.23 on Friday. The stock’s fifty day moving average price is $24.92 and its 200-day moving average price is $23.04. 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 stock has a market cap of $4.09 billion, a P/E ratio of -63.51 and a beta of 1.53. Allegro MicroSystems, Inc. has a 12 month low of $18.34 and a 12 month high of $33.26.

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.