Trillium Asset Management LLC Reduces Stock Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Trillium Asset Management LLC decreased its stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 256,810 shares of the company’s stock after selling 20,747 shares during the quarter. Trillium Asset Management LLC owned about 0.14% of Allegro MicroSystems worth $5,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Avior Wealth Management LLC boosted its holdings in shares of Allegro MicroSystems by 5.3% in the 4th quarter. Avior Wealth Management LLC now owns 14,691 shares of the company’s stock worth $321,000 after purchasing an additional 737 shares during the period. Prosperity Financial Group Inc. boosted its holdings in shares of Allegro MicroSystems by 7.9% in the 3rd quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company’s stock worth $248,000 after purchasing an additional 784 shares during the period. KBC Group NV boosted its holdings in shares of Allegro MicroSystems by 40.9% in the 3rd quarter. KBC Group NV now owns 3,590 shares of the company’s stock worth $84,000 after purchasing an additional 1,042 shares during the period. Keybank National Association OH boosted its holdings in shares of Allegro MicroSystems by 14.9% in 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 during the period. Finally, Natixis Advisors LLC boosted its holdings in shares of Allegro MicroSystems by 5.7% in the 3rd quarter. Natixis Advisors LLC now owns 30,062 shares of the company’s stock worth $700,000 after purchasing an additional 1,625 shares during the period. Hedge funds and other institutional investors own 56.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ALGM shares. Barclays raised their price target on Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $30.00 price target on shares of Allegro MicroSystems in a research note on Monday, February 24th. Morgan Stanley raised their price target on Allegro MicroSystems from $21.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company raised their price target on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.70.

Allegro MicroSystems Trading Up 1.9 %

Shares of NASDAQ ALGM opened at $27.41 on Thursday. 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 business has a fifty day simple moving average of $24.84 and a two-hundred day simple moving average of $22.86. The firm has a market cap of $5.05 billion, a PE ratio of -78.31 and a beta of 1.67. Allegro MicroSystems, Inc. has a twelve month low of $18.59 and a twelve month high of $33.26.

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.