Loomis Sayles & Co. L P Raises Stock Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Loomis Sayles & Co. L P grew its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 11.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 873,467 shares of the company’s stock after purchasing an additional 89,356 shares during the quarter. Loomis Sayles & Co. L P owned 0.47% of Allegro MicroSystems worth $19,094,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Allegro MicroSystems in the 4th quarter valued at approximately $15,145,000. JPMorgan Chase & Co. boosted its holdings in Allegro MicroSystems by 20.6% in the third quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock valued at $256,851,000 after purchasing an additional 1,884,578 shares during the period. Keybank National Association OH grew its stake in Allegro MicroSystems by 14.9% during the 4th quarter. Keybank National Association OH now owns 11,760 shares of the company’s stock worth $257,000 after purchasing an additional 1,522 shares in the last quarter. Geode Capital Management LLC increased its holdings in Allegro MicroSystems by 86.5% during 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 during the period. Finally, Venturi Wealth Management LLC acquired a new stake in Allegro MicroSystems in the 4th quarter valued at about $47,000. Institutional investors and hedge funds own 56.45% of the company’s stock.

Analysts Set New Price Targets

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

Allegro MicroSystems Trading Down 2.6 %

NASDAQ:ALGM opened at $24.86 on Friday. The company has a market capitalization of $4.58 billion, a PE ratio of -71.03 and a beta of 1.67. Allegro MicroSystems, Inc. has a 52-week low of $18.59 and a 52-week high of $33.26. The stock’s 50 day moving average price is $25.25 and its 200 day moving average price is $23.04. 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 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.