Guggenheim Capital LLC Sells 9,953 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Guggenheim Capital LLC reduced its stake in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 26.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,999 shares of the company’s stock after selling 9,953 shares during the quarter. Guggenheim Capital LLC’s holdings in Allegro MicroSystems were worth $612,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC bought a new stake in Allegro MicroSystems in the 4th quarter worth about $47,000. Sterling Capital Management LLC grew its stake in shares of Allegro MicroSystems by 59.9% during the 4th quarter. Sterling Capital Management LLC now owns 7,364 shares of the company’s stock valued at $161,000 after purchasing an additional 2,758 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Allegro MicroSystems during the 4th quarter valued at about $186,000. Bailard Inc. bought a new position in shares of Allegro MicroSystems in the 4th quarter worth approximately $254,000. Finally, Keybank National Association OH boosted its holdings in shares of Allegro MicroSystems by 14.9% in the fourth quarter. Keybank National Association OH now owns 11,760 shares of the company’s stock worth $257,000 after buying an additional 1,522 shares during the last quarter. Institutional investors own 56.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ALGM shares. Needham & Company LLC reissued a “buy” rating and set a $30.00 price objective on shares of Allegro MicroSystems in a research report on Monday, February 24th. Morgan Stanley lifted their price objective 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. Mizuho increased their target price on shares of Allegro MicroSystems from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, March 24th. Wells Fargo & Company increased their target price on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, Barclays dropped their price objective on shares of Allegro MicroSystems from $30.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Allegro MicroSystems presently has a consensus rating of “Moderate Buy” and an average target price of $29.78.

Allegro MicroSystems Stock Up 1.3 %

Shares of NASDAQ:ALGM opened at $19.12 on Friday. The company has a quick ratio of 3.00, a current ratio of 4.91 and a debt-to-equity ratio of 0.40. Allegro MicroSystems, Inc. has a 52-week low of $16.38 and a 52-week high of $33.26. The business’s 50 day moving average is $23.66 and its 200 day moving average is $22.79. The stock has a market cap of $3.52 billion, a P/E ratio of -54.63 and a beta of 1.53.

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.