Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 30.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,719,274 shares of the company’s stock after acquiring an additional 404,761 shares during the period. Dimensional Fund Advisors LP owned 0.93% of Allegro MicroSystems worth $37,582,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new stake in shares of Allegro MicroSystems during the fourth quarter worth about $15,145,000. JPMorgan Chase & Co. grew 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 worth $256,851,000 after acquiring an additional 1,884,578 shares during the period. Keybank National Association OH raised its holdings in Allegro MicroSystems by 14.9% in the 4th quarter. Keybank National Association OH now owns 11,760 shares of the company’s stock valued at $257,000 after acquiring an additional 1,522 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Allegro MicroSystems by 25.7% during the 4th quarter. Victory Capital Management Inc. now owns 39,536 shares of the company’s stock worth $864,000 after purchasing an additional 8,075 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Allegro MicroSystems during the fourth quarter worth $47,000. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. Wells Fargo & Company raised their target price on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Mizuho upped their price target on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, March 24th. 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. Finally, UBS Group dropped their price objective on Allegro MicroSystems from $30.00 to $22.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

Allegro MicroSystems Trading Up 3.8 %

NASDAQ:ALGM opened at $19.55 on Monday. Allegro MicroSystems, Inc. has a 12 month low of $16.38 and a 12 month high of $33.26. The business’s 50-day moving average is $22.96 and its two-hundred day moving average is $22.75. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. The firm has a market capitalization of $3.60 billion, a PE ratio of -55.86 and a beta of 1.57.

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.