Allegro MicroSystems, Inc. (NASDAQ:ALGM) Shares Purchased by Swiss National Bank

Swiss National Bank grew its holdings in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 7.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 253,200 shares of the company’s stock after purchasing an additional 18,200 shares during the period. Swiss National Bank owned approximately 0.14% of Allegro MicroSystems worth $5,535,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ALGM. FMR LLC grew its holdings in 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 acquiring an additional 8,534,089 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Allegro MicroSystems by 20.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock worth $256,851,000 after purchasing an additional 1,884,578 shares in the last quarter. State Street Corp grew its stake in shares of 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 purchasing an additional 1,615,351 shares during the period. Wellington Management Group LLP purchased a new position in shares of Allegro MicroSystems in the 3rd quarter valued at about $71,289,000. Finally, Geode Capital Management LLC lifted its stake 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 purchasing an additional 1,187,792 shares during the period. 56.45% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Morgan Stanley boosted 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. Barclays boosted their price objective 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. Wells Fargo & Company raised their target price on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Monday, January 13th. Finally, 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. One investment 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 presently has an average rating of “Moderate Buy” and an average price target of $30.70.

Allegro MicroSystems Price Performance

Allegro MicroSystems stock opened at $26.57 on Monday. The firm has a fifty day moving average of $24.98 and a 200-day moving average of $22.90. Allegro MicroSystems, Inc. has a 52-week low of $18.59 and a 52-week high of $33.26. The company has a quick ratio of 3.00, a current ratio of 4.91 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $4.89 billion, a P/E ratio of -75.91 and a beta of 1.67.

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.