Talos Asset Management LP Acquires New Holdings in Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Talos Asset Management LP acquired a new stake in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 743,144 shares of the company’s stock, valued at approximately $16,245,000. Allegro MicroSystems makes up 3.8% of Talos Asset Management LP’s portfolio, making the stock its 12th largest holding. Talos Asset Management LP owned 0.40% of Allegro MicroSystems at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Venturi Wealth Management LLC bought a new position in Allegro MicroSystems in the 4th quarter worth approximately $47,000. KBC Group NV increased its position in 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 buying an additional 1,042 shares during the period. Intech Investment Management LLC bought a new position in Allegro MicroSystems in the 3rd quarter worth approximately $214,000. Prosperity Financial Group Inc. increased its position in 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 buying an additional 784 shares during the period. Finally, Bailard Inc. bought a new position in Allegro MicroSystems in the 4th quarter worth approximately $254,000. 56.45% of the stock is owned by institutional investors.

Allegro MicroSystems Price Performance

Shares of ALGM stock opened at $27.41 on Thursday. The stock’s fifty day simple moving average is $24.84 and its 200 day simple moving average is $22.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 4.91 and a quick ratio of 3.00. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of -78.31 and a beta of 1.67. Allegro MicroSystems, Inc. has a one year low of $18.59 and a one year high of $33.26.

Wall Street Analyst Weigh In

Several research analysts have commented on ALGM shares. Wells Fargo & Company lifted their price target on Allegro MicroSystems from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Barclays boosted their price objective on Allegro MicroSystems from $25.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Needham & Company LLC restated a “buy” rating and set a $30.00 price objective on shares of Allegro MicroSystems in a research report on Monday, February 24th. Finally, Morgan Stanley boosted 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. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.70.

Allegro MicroSystems Company 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.