Schroder Investment Management Group Has $9.53 Million Position in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Schroder Investment Management Group grew its position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 2.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 441,623 shares of the company’s stock after purchasing an additional 10,155 shares during the period. Schroder Investment Management Group owned about 0.24% of Allegro MicroSystems worth $9,530,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC acquired a new stake in Allegro MicroSystems during the 4th quarter worth $47,000. Intech Investment Management LLC acquired a new stake in shares of Allegro MicroSystems during the third quarter worth about $214,000. Bailard Inc. bought a new position in shares of Allegro MicroSystems during the 4th quarter valued at about $254,000. Keybank National Association OH grew its position 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 valued at $257,000 after purchasing an additional 1,522 shares during the period. Finally, Avior Wealth Management LLC increased its stake in Allegro MicroSystems by 5.3% during 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 in the last quarter. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Price Performance

Shares of ALGM opened at $21.32 on Friday. The company has a current ratio of 4.91, a quick ratio of 3.00 and a debt-to-equity ratio of 0.40. The company’s fifty day simple moving average is $25.20 and its 200 day simple moving average is $23.12. Allegro MicroSystems, Inc. has a 1-year low of $18.59 and a 1-year high of $33.26. The company has a market cap of $3.93 billion, a price-to-earnings ratio of -60.91 and a beta of 1.53.

Analysts Set New Price Targets

ALGM has been the subject of several research analyst reports. Wells Fargo & Company upped their price target 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. Needham & Company LLC reiterated a “buy” rating and set a $30.00 target price on shares of Allegro MicroSystems in a report on Monday, February 24th. Barclays boosted their price target on Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Morgan Stanley lifted their target price 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. Finally, Mizuho raised their price target on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an “outperform” rating in a research note on Monday, March 24th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $31.20.

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.