Lightrock Netherlands B.V. Invests $4.47 Million in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Lightrock Netherlands B.V. acquired a new stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 203,433 shares of the company’s stock, valued at approximately $4,469,000. Lightrock Netherlands B.V. owned approximately 0.11% of Allegro MicroSystems at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ALGM. KBC Group NV raised its stake in shares of Allegro MicroSystems by 40.9% during the third quarter. KBC Group NV now owns 3,590 shares of the company’s stock worth $84,000 after acquiring an additional 1,042 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of Allegro MicroSystems during the 3rd quarter valued at $172,000. Intech Investment Management LLC purchased a new position in Allegro MicroSystems in the 3rd quarter worth $214,000. nVerses Capital LLC bought a new stake in Allegro MicroSystems in the third quarter worth $231,000. Finally, Prosperity Financial Group Inc. boosted its position in Allegro MicroSystems by 7.9% during the third quarter. Prosperity Financial Group Inc. now owns 10,657 shares of the company’s stock valued at $248,000 after buying an additional 784 shares during the period. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Stock Down 3.7 %

Shares of Allegro MicroSystems stock opened at $23.37 on Tuesday. 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 $4.30 billion, a P/E ratio of -66.77 and a beta of 1.66. The company’s fifty day simple moving average is $22.93 and its two-hundred day simple moving average is $22.48.

Wall Street Analyst Weigh In

Several research firms have recently commented on ALGM. Barclays lifted their price objective on Allegro MicroSystems from $25.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Allegro MicroSystems in a research report on Friday, January 31st. Loop Capital started coverage on Allegro MicroSystems in a research note on Tuesday, November 12th. They set a “buy” rating and a $30.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. Finally, Morgan Stanley increased their price target on shares of 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 analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Allegro MicroSystems currently has an average rating of “Moderate Buy” and an average target price of $30.70.

Insider Activity

In other news, SVP Michael Doogue bought 15,000 shares of the stock in a transaction dated Monday, November 18th. The stock was bought at an average price of $19.00 per share, for a total transaction of $285,000.00. Following the purchase, the senior vice president now directly owns 246,086 shares in the company, valued at $4,675,634. This trade represents a 6.49 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.50% of the company’s stock.

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.