Mitsubishi UFJ Trust & Banking Corp Makes New $336,000 Investment in Allegro MicroSystems, Inc. $ALGM

Mitsubishi UFJ Trust & Banking Corp bought a new position in Allegro MicroSystems, Inc. (NASDAQ:ALGM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 12,752 shares of the company’s stock, valued at approximately $336,000.

A number of other institutional investors have also bought and sold shares of the business. Pictet Asset Management Holding SA lifted its stake in Allegro MicroSystems by 19.5% in the 4th quarter. Pictet Asset Management Holding SA now owns 20,787 shares of the company’s stock worth $548,000 after purchasing an additional 3,387 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its stake in Allegro MicroSystems by 48.5% in the 4th quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 17,085 shares of the company’s stock worth $451,000 after purchasing an additional 5,581 shares in the last quarter. Evergreen Capital Management LLC purchased a new position in Allegro MicroSystems in the 4th quarter worth approximately $212,000. Lecap Asset Management Ltd. purchased a new position in Allegro MicroSystems in the 4th quarter worth approximately $783,000. Finally, Lightrock Netherlands B.V. purchased a new position in Allegro MicroSystems in the 4th quarter worth approximately $9,349,000. 56.45% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALGM has been the topic of several analyst reports. TD Cowen lifted their price target on shares of Allegro MicroSystems from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $45.00 price target on shares of Allegro MicroSystems in a research report on Thursday, February 19th. Needham & Company LLC lifted their price target on shares of Allegro MicroSystems from $41.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, February 19th. Bank of America lifted their price target on shares of Allegro MicroSystems from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company lifted their price target on shares of Allegro MicroSystems from $45.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Ten equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allegro MicroSystems presently has an average rating of “Moderate Buy” and a consensus target price of $45.00.

Allegro MicroSystems Stock Up 3.4%

ALGM stock opened at $51.37 on Thursday. The firm has a market cap of $9.52 billion, a PE ratio of -642.13 and a beta of 2.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.39 and a current ratio of 3.65. Allegro MicroSystems, Inc. has a one year low of $18.17 and a one year high of $51.40. The firm’s 50 day moving average price is $36.25 and its 200-day moving average price is $32.67.

Allegro MicroSystems Company Profile

Allegro MicroSystems, Inc (NASDAQ: ALGM) is a leading designer and manufacturer of high-performance power and sensing integrated circuits. The company focuses on semiconductor solutions that enable precise motion control, energy-efficient power management and robust sensing in a wide range of applications. Allegro’s product portfolio includes Hall-effect magnetic sensors, current and position sensing ICs, motor driver and controller devices, and power management components.

Allegro MicroSystems serves major automotive, industrial and consumer markets worldwide.