Yousif Capital Management LLC Sells 10,570 Shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM)

Yousif Capital Management LLC lessened its position in shares of Allegro MicroSystems, Inc. (NASDAQ:ALGM) by 18.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,648 shares of the company’s stock after selling 10,570 shares during the period. Yousif Capital Management LLC’s holdings in Allegro MicroSystems were worth $998,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Allegro MicroSystems by 43.3% in the 3rd quarter. FMR LLC now owns 28,253,811 shares of the company’s stock valued at $658,314,000 after acquiring an additional 8,534,089 shares in the last quarter. Wellington Management Group LLP bought a new position in shares of Allegro MicroSystems in the 3rd quarter valued at about $71,289,000. JPMorgan Chase & Co. grew its holdings in shares of Allegro MicroSystems by 20.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,023,628 shares of the company’s stock valued at $256,851,000 after acquiring an additional 1,884,578 shares in the last quarter. State Street Corp grew its holdings in shares of Allegro MicroSystems by 41.7% in the 3rd quarter. State Street Corp now owns 5,486,289 shares of the company’s stock valued at $127,831,000 after acquiring an additional 1,615,351 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Allegro MicroSystems by 86.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,561,482 shares of the company’s stock valued at $59,699,000 after acquiring an additional 1,187,792 shares in the last quarter. Institutional investors own 56.45% of the company’s stock.

Allegro MicroSystems Trading Up 4.8 %

Shares of ALGM stock opened at $25.74 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 12-month low of $18.59 and a 12-month high of $33.26. The firm has a 50 day moving average price of $23.21 and a two-hundred day moving average price of $22.53. The company has a market capitalization of $4.74 billion, a PE ratio of -73.54 and a beta of 1.66.

Insider Activity

In other Allegro MicroSystems news, SVP Michael Doogue purchased 15,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was bought at an average cost of $19.00 per share, for a total transaction of $285,000.00. Following the completion of the transaction, the senior vice president now owns 246,086 shares in the company, valued at approximately $4,675,634. This represents a 6.49 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Loop Capital assumed coverage on Allegro MicroSystems in a report on Tuesday, November 12th. They issued a “buy” rating and a $30.00 price objective for the company. Morgan Stanley raised their price objective on Allegro MicroSystems from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Needham & Company LLC reiterated a “buy” rating and set a $30.00 price target on shares of Allegro MicroSystems in a report on Friday, January 31st. Mizuho set a $26.00 price target on Allegro MicroSystems in a report on Friday, October 18th. Finally, 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 report on Monday, January 13th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.70.

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.