Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Acquired by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P boosted its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 11.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 873,467 shares of the company’s stock after purchasing an additional 89,356 shares during the period. Loomis Sayles & Co. L P’s holdings in Allegro MicroSystems were worth $19,094,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ALGM. FMR LLC raised its stake in shares of Allegro MicroSystems by 43.3% during the third quarter. FMR LLC now owns 28,253,811 shares of the company’s stock worth $658,314,000 after purchasing an additional 8,534,089 shares during the last quarter. JPMorgan Chase & Co. increased its stake in Allegro MicroSystems by 20.6% in the 3rd 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 raised its position in Allegro MicroSystems by 41.7% during the 3rd quarter. State Street Corp now owns 5,486,289 shares of the company’s stock worth $127,831,000 after buying an additional 1,615,351 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of Allegro MicroSystems in the 3rd quarter worth $71,289,000. Finally, Geode Capital Management LLC boosted its holdings in shares of Allegro MicroSystems by 86.5% in the third quarter. Geode Capital Management LLC now owns 2,561,482 shares of the company’s stock valued at $59,699,000 after acquiring an additional 1,187,792 shares in the last quarter. 56.45% of the stock is owned by institutional investors and hedge funds.

Allegro MicroSystems Stock Performance

NASDAQ:ALGM opened at $24.86 on Friday. Allegro MicroSystems, Inc. has a twelve month low of $18.59 and a twelve month high of $33.26. The company has a market capitalization of $4.58 billion, a P/E ratio of -71.03 and a beta of 1.67. 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 firm has a 50-day moving average price of $25.25 and a two-hundred day moving average price of $23.04.

Wall Street Analyst Weigh In

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

About Allegro MicroSystems

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.