Vontobel Holding Ltd. Buys 24,629 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Vontobel Holding Ltd. raised its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 26.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 116,053 shares of the company’s stock after acquiring an additional 24,629 shares during the quarter. Vontobel Holding Ltd.’s holdings in Allegro MicroSystems were worth $3,513,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Allegro MicroSystems by 5.1% during the 3rd quarter. Vanguard Group Inc. now owns 7,361,938 shares of the company’s stock worth $235,140,000 after purchasing an additional 355,814 shares during the period. JPMorgan Chase & Co. increased its stake in Allegro MicroSystems by 21.9% in the third quarter. JPMorgan Chase & Co. now owns 4,052,437 shares of the company’s stock valued at $129,435,000 after acquiring an additional 727,535 shares during the period. Robbins Farley bought a new stake in Allegro MicroSystems in the third quarter valued at about $2,144,000. Sei Investments Co. increased its stake in Allegro MicroSystems by 42.5% in the third quarter. Sei Investments Co. now owns 391,144 shares of the company’s stock valued at $12,494,000 after acquiring an additional 116,603 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Allegro MicroSystems by 51.6% in the third quarter. Envestnet Asset Management Inc. now owns 123,376 shares of the company’s stock valued at $3,941,000 after acquiring an additional 41,999 shares during the period. Institutional investors own 56.45% of the company’s stock.

Analysts Set New Price Targets

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

Allegro MicroSystems Price Performance

NASDAQ:ALGM opened at $27.18 on Thursday. The firm has a market cap of $5.25 billion, a PE ratio of 23.84 and a beta of 1.82. Allegro MicroSystems, Inc. has a 12 month low of $24.66 and a 12 month high of $53.05. 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’s 50-day moving average price is $28.98 and its two-hundred day moving average price is $28.55.

Allegro MicroSystems (NASDAQ:ALGM) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.27 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Allegro MicroSystems had a net margin of 21.14% and a return on equity of 23.84%. The firm had revenue of $254.98 million for the quarter, compared to analyst estimates of $255.00 million. On average, equities analysts anticipate that Allegro MicroSystems, Inc. will post 1.13 EPS for the current fiscal year.

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