Natixis Advisors LLC Trims Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Natixis Advisors LLC cut its holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 12.9% in the 4th quarter, HoldingsChannel reports. The fund owned 26,171 shares of the company’s stock after selling 3,891 shares during the period. Natixis Advisors LLC’s holdings in Allegro MicroSystems were worth $572,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Venturi Wealth Management LLC purchased a new stake in shares of Allegro MicroSystems in the fourth quarter valued at $47,000. Intech Investment Management LLC purchased a new position in Allegro MicroSystems during the third quarter worth about $214,000. Bailard Inc. acquired a new stake in Allegro MicroSystems in the 4th quarter worth about $254,000. Keybank National Association OH grew 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 buying an additional 1,522 shares during the period. Finally, Avior Wealth Management LLC increased its stake in shares of Allegro MicroSystems by 5.3% during the 4th quarter. Avior Wealth Management LLC now owns 14,691 shares of the company’s stock valued at $321,000 after acquiring an additional 737 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

Allegro MicroSystems Stock Down 4.9 %

Shares of NASDAQ ALGM opened at $25.53 on Friday. The stock has a fifty day moving average price of $25.25 and a 200 day moving average price of $23.02. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. Allegro MicroSystems, Inc. has a 12-month low of $18.59 and a 12-month high of $33.26. The company has a market cap of $4.70 billion, a P/E ratio of -72.94 and a beta of 1.67.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays raised their target price on shares of Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Mizuho lifted 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. Wells Fargo & Company boosted their price objective on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $30.00 target price on shares of Allegro MicroSystems in a research report on Monday, February 24th. 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 research report on Monday, February 3rd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.20.

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.