Securian Asset Management Inc. Sells 2,211 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Securian Asset Management Inc. lowered its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 18.3% in the 4th quarter, Holdings Channel reports. The firm owned 9,875 shares of the company’s stock after selling 2,211 shares during the quarter. Securian Asset Management Inc.’s holdings in Allegro MicroSystems were worth $216,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ALGM. State of New Jersey Common Pension Fund D bought a new stake in Allegro MicroSystems in the third quarter worth about $1,890,000. Victory Capital Management Inc. raised its stake in shares of Allegro MicroSystems by 90.3% during the third quarter. Victory Capital Management Inc. now owns 31,461 shares of the company’s stock valued at $733,000 after acquiring an additional 14,925 shares in the last quarter. KBC Group NV boosted its holdings in shares of Allegro MicroSystems by 40.9% in the third quarter. KBC Group NV now owns 3,590 shares of the company’s stock valued at $84,000 after purchasing an additional 1,042 shares during the period. Natixis Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 5.7% in the third quarter. Natixis Advisors LLC now owns 30,062 shares of the company’s stock valued at $700,000 after purchasing an additional 1,625 shares during the period. Finally, Mutual of America Capital Management LLC boosted its holdings in shares of Allegro MicroSystems by 105.3% in the third quarter. Mutual of America Capital Management LLC now owns 84,003 shares of the company’s stock valued at $1,957,000 after purchasing an additional 43,090 shares during the period. Institutional investors own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALGM. Barclays boosted their price target on Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price target on shares of Allegro MicroSystems in a report on Monday, February 24th. Wells Fargo & Company boosted their price target on Allegro MicroSystems from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, Morgan Stanley boosted their price target on Allegro MicroSystems from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $30.70.

Allegro MicroSystems Stock Down 0.1 %

Allegro MicroSystems stock opened at $26.90 on Wednesday. The business has a fifty day moving average of $24.77 and a two-hundred day moving average of $22.83. The firm has a market cap of $4.95 billion, a P/E ratio of -76.86 and a beta of 1.67. The company has a quick ratio of 3.00, a current ratio of 4.91 and a debt-to-equity ratio of 0.40. Allegro MicroSystems, Inc. has a twelve month low of $18.59 and a twelve month high of $33.26.

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.