Cwm LLC Buys 886 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Cwm LLC boosted its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 35.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,377 shares of the company’s stock after acquiring an additional 886 shares during the period. Cwm LLC’s holdings in Allegro MicroSystems were worth $102,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in ALGM. Calamos Advisors LLC acquired a new stake in shares of Allegro MicroSystems during the 4th quarter worth approximately $560,000. Migdal Insurance & Financial Holdings Ltd. boosted its stake in Allegro MicroSystems by 14.7% during the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,051 shares of the company’s stock worth $94,000 after buying an additional 390 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Allegro MicroSystems by 22.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,834 shares of the company’s stock valued at $449,000 after buying an additional 2,677 shares during the period. Vontobel Holding Ltd. raised its stake in shares of Allegro MicroSystems by 26.9% in the 4th quarter. Vontobel Holding Ltd. now owns 116,053 shares of the company’s stock valued at $3,513,000 after buying an additional 24,629 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Allegro MicroSystems by 4.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 37,812 shares of the company’s stock worth $1,145,000 after acquiring an additional 1,783 shares during the period. Institutional investors and hedge funds own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALGM. Wolfe Research upgraded shares of Allegro MicroSystems from a “peer perform” rating to an “outperform” rating and set a $35.00 price target for the company in a research note on Friday, February 2nd. Needham & Company LLC lowered their price target on Allegro MicroSystems from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, February 2nd. Evercore ISI initiated coverage on Allegro MicroSystems in a report on Tuesday, April 16th. They set an “outperform” rating and a $36.00 price objective for the company. Finally, TD Cowen upped their target price on shares of Allegro MicroSystems from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.50.

Allegro MicroSystems Stock Up 0.4 %

Shares of NASDAQ ALGM opened at $30.09 on Tuesday. The company has a quick ratio of 3.19, a current ratio of 4.57 and a debt-to-equity ratio of 0.22. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 26.39 and a beta of 1.72. Allegro MicroSystems, Inc. has a 12-month low of $24.66 and a 12-month high of $53.05. The firm’s 50-day simple moving average is $28.36 and its 200 day simple moving average is $28.36.

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; power ICs comprising motor driver ICs, regulator and LED driver ICs, and isolated gate drivers; and photonic and advanced 3D sensing components.